Maine Statutes
§ 24-A §3356 — Failure to complete and qualify
Maine·Title 24-A MAINE INSURANCE CODE·Ch. 47 ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS
If the proposed domestic mutual insurer fails to complete its organization and to secure its original certificate of authority within one year after the date its articles of incorporation were filed with the Secretary of State, its corporate powers cease, and the superintendent shall return or cause to be returned to the persons entitled to them all advance deposits or payments of premium held in trust under section 3355.
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Legislative History
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 2013, c. 299, §8 (AMD).
Nearby Sections
15
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Insurance contract§ 24 §1002
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Assigned risks; reinsurance§ 24 §1008
Calls for payments; proceeds§ 24 §1012
Annual report; examinations§ 24 §1013
Filing fees§ 24 §1051
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