Maine § 24-A §3354 Qualifying applications for insurance; solicitation

Maine Statutes

§ 24-A §3354 — Qualifying applications for insurance; solicitation

Maine § 24-A §3354

Title 24-AMAINE INSURANCE CODE

Ch. 47ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS

This text of Maine § 24-A §3354 (Qualifying applications for insurance; solicitation) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 24-A, § 24-A §3354 (2026).

Text

1.Upon receipt of the superintendent's approval of the bond or deposit as provided in section 3353, the directors and officers of the proposed domestic mutual insurer may commence solicitation of such requisite applications for insurance policies as they may accept, and may receive deposits of premiums thereon.

2.All such applications shall be in writing signed by the applicant, covering subjects of insurance resident, located or to be performed in this State.

3.All applications must provide that:

4.All qualifying premiums collected shall be in cash.

5.Solicitation for such qualifying applications for insurance must be by licensed producers of the corporation, and the superintendent shall, upon the corporation's application therefor, issue temporary producer's licenses expiring on the

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1.
Upon receipt of the superintendent's approval of the bond or deposit as provided in section 3353, the directors and officers of the proposed domestic mutual insurer may commence solicitation of such requisite applications for insurance policies as they may accept, and may receive deposits of premiums thereon.
2.
All such applications shall be in writing signed by the applicant, covering subjects of insurance resident, located or to be performed in this State.
3.
All applications must provide that:
4.
All qualifying premiums collected shall be in cash.
5.
Solicitation for such qualifying applications for insurance must be by licensed producers of the corporation, and the superintendent shall, upon the corporation's application therefor, issue temporary producer's licenses expiring on the date specified pursuant to subsection 3, paragraph C to individuals qualified as for a resident producer's license except as to the taking or passing of an examination. The superintendent may suspend or revoke any such license for any of the causes and pursuant to the same procedures as are applicable to suspension or revocation of licenses of producers in general under chapter 16.