(6) The trustees of the trust shall report to the superintendent in writing by February 28th of each year, setting forth the balance of the trust and listing the trust's investments at the end of the preceding year and certifying the date of termination of the trust, if so planned, or certifying that the trust does not expire before December 31st of the current year.

(7) The corpus of the trust is to be valued as any other admitted asset or assets;

Sec. 20. 24-A MRSA §731-B, sub-§1, ¶D, as enacted by PL 1989, c. 846, Pt. E, §2 and affected by §4, is amended to read:

D. Does not meet the requirements of paragraph A, B or C, but only with respect to risks located in a jurisdiction other than the United States, when where that reinsurance is required by any applicable law or regulation of that jurisdiction. The superintendent for good cause after notice and opportunity for hearing may disallow or reduce the credit otherwise permitted under this paragraph.

Sec. 21. 24-A MRSA §731-B, sub-§6, as enacted by PL 1989, c. 846, Pt. E, §2 and affected by §4, is repealed.

Sec. 22. 24-A MRSA §944, as enacted by PL 1991, c. 128, is repealed.

Sec. 23. 24-A MRSA §3487 is enacted to read:

§3487.__Redomestication of insurers

1.__Redomestication of foreign insurers to Maine.__Any stock or mutual insurer that is organized under the laws of any other state and has a valid certificate of authority to do business in this State may become a domestic insurer with approval of the superintendent by amending its certificate of organization or equivalent corporate charter and by designating a location in this State as its principal place of business.__The redomestication must be approved if the chief insurance regulatory official of the other state certifies to the superintendent that the redomestication is in compliance with all requirements established by the laws of that state, and the superintendent determines that the insurer's operations and corporate organization will comply with the requirements of this chapter and that the redomestication is not contrary to the