LD 1192
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LD 1192 Title Page An Act to Update Insurance Financial Standards Page 2 of 18
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LR 1012
Item 1

 
Be it enacted by the People of the State of Maine as follows:

 
Sec. 1. 13-A MRSA §811 is enacted to read:

 
§811.__Redomestication by Maine insurer

 
A Maine insurer that transfers its domicile to another state
shall file with the Secretary of State notification of
redomestication on a form prescribed by the Secretary of State
and approved by the Superintendent of Insurance.

 
Sec. 2. 13-A MRSA §1207-A is enacted to read:

 
§1207-A.__Redomestication by foreign insurer

 
1.__A foreign insurer that transfers its domicile to this
State shall file with the Secretary of State a long-form
certificate of good standing or its equivalent, duly certified by
the proper official of the previous state of domicile, and an
application for redomestication to become a Maine insurer on a
form prescribed by the Secretary of State and approved by the
Superintendent of Insurance.

 
2.__A foreign insurer qualified to do business in this State
that transfers its domicile to a state other than Maine shall
file with the Secretary of State notification by a foreign
insurer of redomestication in a form prescribed by the Secretary
of State and approved by the Superintendent of Insurance.

 
Sec. 3. 13-A MRSA §1401, sub-§16-A is enacted to read:

 
16-A.__Notification by a Maine insurer of redomestication, as
provided by section 811, $55;

 
Sec. 4. 13-A MRSA §1401, sub-§§27-A and 27-B are enacted to read:

 
27-A.__Application for redomestication to become a Maine
insurer, as provided in section 1207-A, $80;

 
27-B.__Notification by a foreign insurer of redomestication,
as provided by section 1207-A, $35;

 
Sec. 5. 24-A MRSA §221-A, sub-§3, as amended by PL 1993, c. 313, §5,
is further amended to read:


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