§ 24-A §413-A — Alien insurer; port of entry

Maine § 24-A §413-A

• Jurisdiction: Maine
• Title 24-A: MAINE INSURANCE CODE
• Ch. 5: AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS

Text

1.
Port of entry.
An alien insurer that has been authorized by the superintendent to use the State as its port of entry for the transaction of business in the United States is considered a domestic insurer to the extent provided in this section. An alien insurer that has been approved by another state to use that state as its port of entry is considered to be domiciled in that state in the same manner, if there is a valid reciprocity agreement between that state and this State or if the superintendent has determined that the applicable laws of that state are substantially similar to this section and its implementing rules.
2.
Rules.
The superintendent shall adopt rules establishing the terms and conditions of port of entry authorization, which include without limitation:

Legislative History

PL 1995, c. 375, §D1 (NEW). PL 1999, c. 113, §17 (AMD).