§ 24-A §6604 — Filing requirements

Maine § 24-A §6604

• Jurisdiction: Maine
• Title 24-A: MAINE INSURANCE CODE
• Ch. 81: MULTIPLE-EMPLOYER WELFARE ARRANGEMENTS

Text

The sponsoring association shall file with the superintendent an application for authorization of the arrangement upon a form to be furnished by the superintendent. The application must include or have attached the following:
1.
Constitution or bylaws.
A copy of the constitution or bylaws of the association;
2.
Identification of trustees.
The names and addresses of the trustees of the arrangement;
3.
Document governing operation.
A copy of the declaration of trust, trust agreement and any other documents that govern the operation of the arrangement;
4.
Evidence of benefits provided.
A copy of the employer participation agreement and the certificate, summary plan description or other evidence of the benefits and coverage provided to covered employees;
5.
Proof of deposit or surety bond.
Proof of deposit or a copy of the surety bond required pursuant to section 6607;
6.
Excess insurance agreement.
A copy of the arrangement's excess insurance agreement;
7.
Evidence of sound actuarial principles.
Evidence satisfactory to the superintendent showing that the arrangement will be operated in accordance with sound actuarial principles. The superintendent may not approve the arrangement unless the superintendent determines that the plan is designed to provide sufficient revenues to pay current and future liabilities, as determined in accordance with sound actuarial principles;
8.
Additional information.
Additional information that the superintendent may reasonably require; and
9.
Filing fee.
The filing fee specified in section 601.

Legislative History

PL 1993, c. 688, §1 (NEW). PL 1995, c. 618, §§8,9 (AMD).