Maine Statutes

§ 24-A §3624 — Unearned premium reserve

Maine § 24-A §3624

JurisdictionMaine

Title 24-AMAINE INSURANCE CODE

Ch. 51DOMESTIC MUTUAL ASSESSMENT INSURERS

This text of Maine § 24-A §3624 (Unearned premium reserve) 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 §3624 (2026).

Text

An insurer which collects a cash premium or advance assessment shall maintain an unearned premium reserve equal to 50% of the cash premium or advance assessment on its policies in force.

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Legislative History

PL 1969, c. 132, §1 (NEW).

Nearby Sections

15

§ 24 §1

Insurance contract

§ 24 §1001

Contract defined; duly organized corporation required

§ 24 §1002

Formation of corporation; guaranty fund; authority to write business; liability of policyholder

§ 24 §1003

Fraudulent operation; closing of business; receiver; dissolution

§ 24 §1004

Assigned risks; reinsurance

§ 24 §1005

Reserve fund; investment and payment of claims

§ 24 §1006

Duty of commissioner; satisfaction of judgments

§ 24 §1007

Foreign corporations; authority to do business; renewal and revocation

§ 24 §1008

Calls for payments; proceeds

§ 24 §1009

Assessment notice must appear on policy face

§ 24 §1010

Benefit or relief not liable to attachment; change of beneficiary

§ 24 §1011

False representation by solicitor, agent or physician

§ 24 §1012

Annual report; examinations

§ 24 §1013

§ 24 §1051

Automobile physical damage insurance

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Bluebook (online)

Maine § 24-A §3624, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/24-A%20%C2%A73624.