Maine § 24-A §3865 Financial conditions; method of determining

Maine Statutes

§ 24-A §3865 — Financial conditions; method of determining

Maine § 24-A §3865

Title 24-AMAINE INSURANCE CODE

Ch. 53RECIPROCAL INSURERS

This text of Maine § 24-A §3865 (Financial conditions; method of determining) 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 §3865 (2026).

Text

In determining the financial condition of a reciprocal insurer the superintendent shall apply the following rules:

1.The superintendent shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.

2.The surplus deposits of subscribers shall be allowed as assets, except that any premium deposits delinquent for 90 days shall first be charged against such surplus deposit.

3.The surplus deposits of subscribers shall not be charged as a liability.

4.All premium deposits delinquent less than 90 days shall be allowed as assets.

5.An assessment levied upon subscribers, and not collected, shall not be allowed as an asset.

6.The contingent liability of subscribers shall not be allowed as an asset.

7.The computation o

Free access — add to your briefcase to read the full text and ask questions with AI

In determining the financial condition of a reciprocal insurer the superintendent shall apply the following rules:
1.
The superintendent shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.
2.
The surplus deposits of subscribers shall be allowed as assets, except that any premium deposits delinquent for 90 days shall first be charged against such surplus deposit.
3.
The surplus deposits of subscribers shall not be charged as a liability.
4.
All premium deposits delinquent less than 90 days shall be allowed as assets.
5.
An assessment levied upon subscribers, and not collected, shall not be allowed as an asset.
6.
The contingent liability of subscribers shall not be allowed as an asset.
7.
The computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for expenses and the compensation of the attorney.