Maine § 24-A §4204-A Surplus requirements

Maine Statutes

§ 24-A §4204-A — Surplus requirements

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 56 HEALTH MAINTENANCE ORGANIZATIONS

1.Initial minimum surplus. To qualify for authority as a health maintenance organization, an organization shall have an initial minimum surplus of $1,500,000.

2.Surplus maintained. Except as provided in this section, every health maintenance organization must maintain a minimum surplus equal to the greater of: 2-A. Additional surplus. A health maintenance organization that otherwise possesses surplus funds as required under this section shall also maintain surplus in a reasonable amount as determined by the superintendent in relation to indemnity risks assumed through the issuance of a point-of-service product, net of any applicable reinsurance.

3.Exceptions. A health maintenance organization licensed before the effective date of this section must maintain a minimum surplus of:

4.Subor

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1.
Initial minimum surplus.
To qualify for authority as a health maintenance organization, an organization shall have an initial minimum surplus of $1,500,000.
2.
Surplus maintained.
Except as provided in this section, every health maintenance organization must maintain a minimum surplus equal to the greater of:
2-A.
Additional surplus.
A health maintenance organization that otherwise possesses surplus funds as required under this section shall also maintain surplus in a reasonable amount as determined by the superintendent in relation to indemnity risks assumed through the issuance of a point-of-service product, net of any applicable reinsurance.
3.
Exceptions.
A health maintenance organization licensed before the effective date of this section must maintain a minimum surplus of:
4.
Subordinated debt.
Any health maintenance organization that issues a subordinated debt instrument shall structure the debt as follows.

Maine § 24-A §4204-A (Surplus requirements) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.