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Title 24-A, Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS

Subchapter 1: ORGANIZATION AND GENERAL POWERS

24-A §3301. Scope of chapter 
24-A §3302. Insurers to be organized under this Title 
24-A §3303. Reservation of power 
24-A §3304. Applicability of general corporation statutes 
24-A §3305. "Stock," "mutual" insurers defined 
24-A §3306. Incorporation of domestic stock, mutual insurers 
24-A §3307. Articles of incorporation, approval and filing 
24-A §3308. Certificate of Secretary of State (REPEALED) 
24-A §3308-A. Filing by the Secretary of State 
24-A §3309. Completion of incorporation; general powers, duties 
24-A §3310. Amendment of articles of incorporation; change of principal place of business 
24-A §3311. Insurance business exclusive; exceptions 

Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS

24-A §3352. Mutual insurers, initial qualifications 
24-A §3353. Qualifying applications for insurance; bond or deposit 
24-A §3354. Qualifying applications for insurance; solicitation 
24-A §3355. Deposit of qualifying premiums; effective date of insurance 
24-A §3356. Failure to complete and qualify 
24-A §3357. Authority to transact additional kinds of insurance 
24-A §3358. Guaranty capital shares 
24-A §3359. Bylaws 
24-A §3360. Members are policyholders 
24-A §3361. Meetings of members, in general 
24-A §3362. Special meetings of members 
24-A §3363. Voting rights of members 
24-A §3364. Contingent liability of members 
24-A §3365. Levy of contingent liability 
24-A §3366. Enforcement of contingent liability 
24-A §3367. Nonassessable policies; limits of assessability; use of funds; combination operation 

Subchapter 3: PROVISIONS APPLYING TO STOCK AND MUTUAL INSURERS

24-A §3408. Home office, records, assets to be in State; exceptions 
24-A §3409. Vouchers for expenditures 
24-A §3410. Destruction of records 
24-A §3411. Directors 
24-A §3412. Officers; notice of change 
24-A §3413. Prohibited pecuniary interest of officials and others; use of confidential information prohibited 
24-A §3414. Management, commission, exclusive agency contracts 
24-A §3415. Borrowed capital funds 
24-A §3416. Dividends to stockholders 
24-A §3417. Participating policies 
24-A §3418. Dividends to policyholders 
24-A §3419. Pension and other plans for employees and others 
24-A §3420. Insurance benefits for employees and others 
24-A §3421. Solicitation, insuring in other states 
24-A §3422. Purchase of own shares by stock insurer 
24-A §3423. Impairment of capital funds 
24-A §3424. Restrictions during impairment; penalty 

Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION

24-A §3471. Scope of subchapter 
24-A §3472. Mutualization of stock insurer 
24-A §3473. Conversion of stock insurer to ordinary business corporation 
24-A §3474. Merger, consolidation of stock insurers 
24-A §3475. Exchange of securities between insurers 
24-A §3476. Acquisition of controlling stock 
24-A §3477. Conversion of mutual to stock insurer 
24-A §3478. Merger, consolidation of mutual insurers authorized 
24-A §3479. -- plan, agreement of merger, consolidation; approval by corporations 
24-A §3480. -- approval by superintendent 
24-A §3481. -- review by Attorney General; filing with Secretary of State 
24-A §3482. -- effective date of merger, consolidation; effect as to assets, liabilities, rights and power 
24-A §3483. Bulk reinsurance 
24-A §3484. Voluntary dissolution 
24-A §3485. Mutual member's share of assets on liquidation 
24-A §3486. Plans for acquisition of minority interests in domestic stock insurance companies and appraisal of stock of dissenting shareholders 
24-A §3487. Redomestication of insurers 
24-A §3488. Reorganization of mutual insurer through formation of mutual holding company 
24-A §3489. Requirements applicable to a mutual holding company 
24-A §3490. Conversion of mutual holding company 
The Revisor's Office cannot provide legal advice or interpretation of Maine law to the public.
If you need legal advice, please consult a qualified attorney.
Office of the Revisor of Statutes · 7 State House Station · State House Room 108 · Augusta, Maine 04333-0007
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