§ 24-A §423-A — Interim financial reporting requirements

Maine § 24-A §423-A

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

Text

1.
Quarterly statement.
No later than the 15th day of the 2nd month following the close of any calendar quarter, except the 4th quarter, an authorized insurer that is subject to the requirements of section 423 shall file a quarterly statement of financial condition with the superintendent.
2.
Form and content.
The quarterly statement must be in the form prescribed by the National Association of Insurance Commissioners and must be prepared in accordance with the association's quarterly statement instructions.
3.
Verification.
The report must be verified by the oath of the insurer's president or vice-president, and the secretary or actuary as applicable, or in the absence of the foregoing, by 2 other principal officers; or if a reciprocal insurer, by the oath of the attorney-in-fact or its like officers if a corporation.
4.
Supplemental reporting.
Upon the superintendent's request, the insurer shall file periodic reports of financial condition on a monthly basis, or at other intervals prescribed by the superintendent, in such form and containing such information as the superintendent prescribes.

Legislative History

PL 1985, c. 330, §6 (NEW). PL 2017, c. 169, Pt. A, §4 (AMD).