Maine § 24-A §3480 -- approval by superintendent

Maine Statutes

§ 24-A §3480 — -- approval by superintendent

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 47 ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS

1.The plan and agreement referred to in section 3479 shall not be effectuated until filed with and approved by the superintendent in writing. The insurers shall furnish the superintendent such additional information in relation to the proposed merger or consolidation as the superintendent may reasonably require.

2.The superintendent shall approve the plan and agreement unless the superintendent finds that it:

3.If the superintendent does not approve the plan and agreement the superintendent shall so notify the insurers parties thereto in writing, specifying the superintendent's reasons therefor.

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1.
The plan and agreement referred to in section 3479 shall not be effectuated until filed with and approved by the superintendent in writing. The insurers shall furnish the superintendent such additional information in relation to the proposed merger or consolidation as the superintendent may reasonably require.
2.
The superintendent shall approve the plan and agreement unless the superintendent finds that it:
3.
If the superintendent does not approve the plan and agreement the superintendent shall so notify the insurers parties thereto in writing, specifying the superintendent's reasons therefor.

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