LD 1192
pg. 12
Page 11 of 18 An Act to Update Insurance Financial Standards Page 13 of 18
Download Bill Text
LR 1012
Item 1

 
redomestication and shall file promptly any resulting amendments to
corporate documents filed or required to be filed with the
superintendent.

 
4.__Filing with Secretary of State.__Each 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 in a form prescribed by the Secretary
of State and approved by the superintendent.__Each 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 a notification by a foreign insurer of
redomestication in a form prescribed by the Secretary of State
and approved by the superintendent.__Each domestic insurer that
transfer its domicile to another state shall file with the
Secretary of State a notification of redomestication in a form
prescribed by the Secretary of State and approved by the
superintendent.

 
Sec. 24. 24-A MRSA §6451-A is enacted to read:

 
§6451-A.__Applicability to other health organizations

 
This chapter applies to fraternal benefit societies authorized
to do business in this State pursuant to section 4124, to health
maintenance organizations authorized to do business in this State
pursuant to section 4204 and to nonprofit hospital or medical
service organizations authorized to do business in this State
pursuant to Title 24, section 2305.__Such health organizations
are considered insurers for purposes of this chapter and are
subject to the provisions applicable to property and casualty
insurers where this chapter provides separate standards for
property and casualty insurers and for life or health insurers.

 
Sec. 25. 24-A MRSA §6452, sub-§1, as enacted by PL 1993, c. 634, Pt.
A, §1, is amended to read:

 
1. Duty to file. A domestic insurer shall, on or before
March 15th 1st, submit to the superintendent a report of its
risk-based capital levels as of the end of the previous calendar
year, in a form and containing such information as is required by
the risk-based capital instructions. In addition, a domestic
insurer shall file its risk-based capital report:

 
A. With the NAIC in accordance with the risk-based capital
instructions; and


Page 11 of 18 Top of Page Page 13 of 18