Maine § 24-A §6806 Reporting requirements; confidentiality of information

Maine Statutes

§ 24-A §6806 — Reporting requirements; confidentiality of information

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 85 VIATICAL AND LIFE SETTLEMENTS ACT

1.Annual report. A settlement provider licensee shall file with the superintendent by March 1st of each year an annual statement containing such information as the superintendent prescribes by rule, including information related to settlement transactions on policies settled within 5 years of policy issuance. The superintendent may not adopt any rule that requires the submission of information that permits the identification of a viator or relates to transactions when the viator is not a resident of this State. The superintendent may not request, collect or compile personal information that identifies any viator or insured except in connection with the investigation of a specific complaint and with the prior written permission of the viator or insured or the viator's or insured's estate o

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1.
Annual report.
A settlement provider licensee shall file with the superintendent by March 1st of each year an annual statement containing such information as the superintendent prescribes by rule, including information related to settlement transactions on policies settled within 5 years of policy issuance. The superintendent may not adopt any rule that requires the submission of information that permits the identification of a viator or relates to transactions when the viator is not a resident of this State. The superintendent may not request, collect or compile personal information that identifies any viator or insured except in connection with the investigation of a specific complaint and with the prior written permission of the viator or insured or the viator's or insured's estate or representative to collect that information. The annual statement required by this subsection and by rule of the superintendent is a public record within the meaning of Title 1, chapter 13, subchapter 1.
1-A.
Fee for filing annual report.
The fee for filing the annual report is the same as for an insurer as provided in section 601. On or before July 1st of each year, the superintendent shall forward to each settlement provider an itemized bill for the amount due for the filing of the annual statement and the amount due for the certificate of authority annual fee.
2.
Privacy protection.
Except as otherwise required or permitted by law, a settlement provider, settlement producer, insurance company, insurance producer, independent insurance producer, information bureau, rating company or any other person with actual knowledge of the identity of a viator, or of the insured if other than the viator, may not disclose that identity, or the insured's financial or medical information, to any other person unless the disclosure:
3.
Sale or transfer.

Maine § 24-A §6806 (Reporting requirements; confidentiality of information) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

PL 1997, c. 430, §1 (NEW). PL 1997, c. 430, §2 (AFF). PL 1997, c. 592, §81 (AMD). PL 2003, c. 636, §9 (AMD). PL 2009, c. 376, §8 (AMD). PL 2017, c. 75, §1 (AMD).