Maine § 24-A §4439 Plan of operation

Maine Statutes

§ 24-A §4439 — Plan of operation

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 57 DELINQUENT INSURERS

1.Submission.

2.Complying. All member insurers shall comply with the plan of operation.

3.Plan. The plan of operation shall:

4.Provisions. The plan of operation may provide that any or all powers and duties of the association, except those under section 4438, subsection 1, paragraph C, and section 4438, subsection 2, paragraph B, are delegated to a corporation, association or other organization which performs or will perform functions similar to those of the association, or its equivalent, in 2 or more states. Such a corporation, association or organization shall be reimbursed as a servicing facility would be reimbursed and shall be paid for its performance of any other functions of the association. A delegation under this subsection shall take effect only with the approval of both the

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1.
Submission.
2.
Complying.
All member insurers shall comply with the plan of operation.
3.
Plan.
The plan of operation shall:
4.
Provisions.
The plan of operation may provide that any or all powers and duties of the association, except those under section 4438, subsection 1, paragraph C, and section 4438, subsection 2, paragraph B, are delegated to a corporation, association or other organization which performs or will perform functions similar to those of the association, or its equivalent, in 2 or more states. Such a corporation, association or organization shall be reimbursed as a servicing facility would be reimbursed and shall be paid for its performance of any other functions of the association. A delegation under this subsection shall take effect only with the approval of both the board of directors and the superintendent, and may be made only to a corporation, association or organization which extends protection not substantially less favorable and effective than that provided by this subchapter.

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