Maine Revised Statutes Title 5 Sec. 1731-A – Limitation and provision for stop-loss insurance
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Terms Used In Maine Revised Statutes Title 5 Sec. 1731-A
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Deductible or self-insured retention provisions hereunder may not exceed 25% of the self-insurance fund as of July 1st of the current fiscal year per occurrence with respect to any risk of loss. [PL 1993, c. 470, §3 (AMD).]
The State Controller may purchase such reinsurance of the deductible or self-insured retentions hereunder as the State Controller may consider necessary or desirable. The State Controller may purchase such reinsurance protection from companies or agents licensed or approved by the Superintendent of Insurance to do business in the State. [PL 2017, c. 284, Pt. O, §5 (AMD).]
SECTION HISTORY
PL 1971, c. 239, §2 (NEW). PL 1983, c. 349, §13 (AMD). PL 1985, c. 534 (AMD). PL 1989, c. 857, §21 (AMD). PL 1993, c. 470, §3 (AMD). PL 2017, c. 284, Pt. O, §5 (AMD).