LD 915
pg. 1
LD 915 Title Page An Act to Amend the Maine Insurance Guaranty Association Act Page 2 of 2
Download Bill Text
LR 573
Item 1

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

 
Sec. 1. 24-A MRSA §4433, sub-§2, ¶C, as amended by PL 1987, c. 707, §4,
is further amended to read:

 
C. Credit insurance, vendors single-interest insurance,
collateral protection insurance or any similar insurance
protecting the interests of a creditor arising out of a
creditor-debtor transaction;

 
Sec. 2. 24-A MRSA §4433, sub-§2, ¶F, as amended by PL 1989, c. 67, §1,
is further amended to read:

 
F. Financial guaranty insurance or other forms of insurance
offering protection against investment risks; and

 
Sec. 3. 24-A MRSA §4433, sub-§2, ¶G, as amended by PL 1991, c. 885, Pt.
E, §32 and affected by §47, is further amended to read:

 
G. Contracts of workers' compensation excess insurance
issued to workers' compensation self-insurers approved under
former Title 39, section 23 or under Title 39-A, section 403
by any insurer after the effective date of this paragraph,
or in the case of a contract that automatically renews, not
later than one year after the effective date of this
paragraph.;

 
Sec. 4. 24-A MRSA §4433, sub-§2, ¶¶H to K are enacted to read:

 
H.__Life, annuity, health or disability insurance;

 
I.__Insurance of warranties or service contracts, including
insurance that provides for the repair, replacement or
service of goods or property, or indemnification of repair,
replacement or service; for the operational or structural
failure of the goods or property due to a defect in
materials, workmanship or normal wear and tear; or for
reimbursement for the liability incurred by the issuer of
agreements or service contracts that provide such benefits;

 
J.__A transaction or combination of transactions between a
person, including affiliates of that person, and an insurer,
including affiliates of that insurer, that involves the
transfer of investment or credit risk unaccompanied by
transfer of insurance risk; and

 
K.__Insurance provided by or guaranteed by a governmental
entity.


LD 915 Title Page Top of Page Page 2 of 2