Maine § 24-A §798 Exemption from insurance laws within limitations

Maine Statutes

§ 24-A §798 — Exemption from insurance laws within limitations

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 9 KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE

1.Titles consistent. A special purpose reinsurance vehicle is subject to chapters 1, 3 and 5 to the extent consistent with this subchapter.

2.Provisions not applicable. No other provisions of this Title are applicable to a special purpose reinsurance vehicle organized under this subchapter, except as expressly provided in this subchapter or in rules adopted by the superintendent pursuant to section 797.

3.Variance. The superintendent may issue an order exempting a special purpose reinsurance vehicle or a protected cell from provisions of this subchapter upon a finding that the variance is necessary for conformance to the laws or regulatory requirements of a ceding insurer's state of domicile and that the variance is consistent with the purposes of this subchapter given the nature of the

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Titles consistent.
A special purpose reinsurance vehicle is subject to chapters 1, 3 and 5 to the extent consistent with this subchapter.
2.
Provisions not applicable.
No other provisions of this Title are applicable to a special purpose reinsurance vehicle organized under this subchapter, except as expressly provided in this subchapter or in rules adopted by the superintendent pursuant to section 797.
3.
Variance.
The superintendent may issue an order exempting a special purpose reinsurance vehicle or a protected cell from provisions of this subchapter upon a finding that the variance is necessary for conformance to the laws or regulatory requirements of a ceding insurer's state of domicile and that the variance is consistent with the purposes of this subchapter given the nature of the risks to be insured.

Maine § 24-A §798 (Exemption from insurance laws within limitations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.