Maine § 24-A §3551 Purpose

Maine Statutes

§ 24-A §3551 — Purpose

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 49 CONTINUITY OF MANAGEMENT

Enemy attack could seriously disrupt the management functions of an insurance organization. Prompt resumption of insurance operations following attack is in the public interest and requires provisions for the continuity of management. It is essential that advance corporate action be taken to provide for the reconstitution of the board of directors or substitute governing body, for the succession of key personnel and for the designation of alternate headquarters.

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Enemy attack could seriously disrupt the management functions of an insurance organization. Prompt resumption of insurance operations following attack is in the public interest and requires provisions for the continuity of management. It is essential that advance corporate action be taken to provide for the reconstitution of the board of directors or substitute governing body, for the succession of key personnel and for the designation of alternate headquarters.

Maine § 24-A §3551 (Purpose) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.