| | | Sec. B-8. P&SL 1939, c. 24, §3, as repealed and replaced by PL 1997, | | c. 344, §9, is repealed and the following enacted in its | | place: |
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| | | Sec.* 3.__Purposes.__The corporation is organized for all purposes | | and activities permitted to hospital or medical service | | organizations under the Maine Revised Statutes, Title 24, | | chapter 19 and for all purposes and activities permitted to | | health maintenance organizations under Title 24-A, chapter 56.__ | | Subject to Title 24 and Title 24-A, the corporation has all of | | the general powers of corporations under Title 13-B, section | | 202. |
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| | | Sec. B-9. Effective date. This Part takes effect October 1, 2003. |
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| | | This bill repeals the law that allowed the conversion of the | | former Blue Cross and Blue Shield of Maine from a nonprofit | | hospital and medical service organization and public charity | | to a for-profit stock company. It also requires the | | approximately $88,000,000 in assets resulting from the | | conversion to be turned over to the General Fund by October 1, | | 2003. |
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