Maine § 24-A §4205-A Continuity of licensure; business combinations

Maine Statutes

§ 24-A §4205-A — Continuity of licensure; business combinations

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

When a health maintenance organization authorized pursuant to this chapter merges or consolidates with an insurer or a nonprofit hospital, medical or health care service organization and operations of the surviving entity include those of a health maintenance organization, the surviving entity succeeds on a continuing basis to the authority possessed by the merging entities if:

1.Plan approved. The superintendent has approved the plan of merger or consolidation, pursuant to section 4203, subsection 1;

2.Entity financially qualified. The entity is financially qualified pursuant to the provisions of sections 410 and 4204‑A; and

3.Entity otherwise qualified. The entity is otherwise qualified pursuant to this chapter.

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When a health maintenance organization authorized pursuant to this chapter merges or consolidates with an insurer or a nonprofit hospital, medical or health care service organization and operations of the surviving entity include those of a health maintenance organization, the surviving entity succeeds on a continuing basis to the authority possessed by the merging entities if:
1.
Plan approved.
The superintendent has approved the plan of merger or consolidation, pursuant to section 4203, subsection 1;
2.
Entity financially qualified.
The entity is financially qualified pursuant to the provisions of sections 410 and 4204‑A; and
3.
Entity otherwise qualified.
The entity is otherwise qualified pursuant to this chapter.

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