3. Assistance to superintendent. The association is authorized to assist the superintendent, in the prescribed manner, in the detection and prevention of insurer impairments and insolvencies.

Sec. 2. 24-A MRSA §4603, as amended by PL 1989, c. 751, §§8 to 10, is further amended to read:

§4603. Scope

1. Application. This chapter shall apply applies to direct nongroup life insurance policies, health insurance policies, annuity contracts and contracts supplemental to life and health insurance policies and annuity contracts issued by persons authorized to transact insurance in this State at any time and to certificates under direct group life insurance policies, health insurance policies and annuity contracts, except as limited by this chapter. For the purposes of this chapter, annuity contracts and certificates under group annuity contracts include allocated funding agreements, structured settlement annuities and any immediate or deferred annuity contracts.

1-A. Persons covered. This chapter shall provide provides coverage for the policies and contracts specified in subsection 1:

A. To any person, regardless of where the person resides, except for a nonresident certificate holder under a group policy or contract, who is the beneficiary, assignee or payee of a person covered under paragraph B; and

B. To any person who owns, or is a certificate holder under, a policy or contract specified in subsection 1 or, in the case of an unallocated annuity contract, to a person who is the contract holder and, other than a structured settlement annuity, who:

(1) Is a resident; or

(2) Is not a resident, if all the following conditions are met:

(i) (a) The insurer that issued the policy or contract is domiciled in this State;

(ii) (b) The insurer never held a license or