Maine Revised Statutes Title 24-A Sec. 2440 – Applicability
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1. Application. This Act shall apply to all policies delivered or issued for delivery in this State by an insurer on or after the date the forms must be approved under this Act, but nothing in this Act shall apply to:
A. Any policy which is a security subject to federal jurisdiction; [PL 1979, c. 267, §2 (NEW).]
B. Any group policy covering a group of 1,000 or more lives at date of issue, other than a group credit life or health insurance policy; this shall not exempt any certificate issued pursuant to a group policy delivered or issued for delivery in this State; [PL 1979, c. 267, §2 (NEW).]
C. Any group annuity contract which serves as a funding vehicle for pension, profit-sharing or deferred compensation plans; [PL 1979, c. 267, §2 (NEW).]
D. Any form used in connection with, as a conversion from, as an addition to, or in exchange pursuant to a contractual provision for, a policy delivered or issued for delivery on a form approved or permitted to be issued prior to the dates the forms must be approved under this section; [PL 1979, c. 267, §2 (NEW).]
E. The renewal of a policy delivered or issued for delivery prior to the dates the forms must be approved under this Act. [PL 1979, c. 267, §2 (NEW).]
[PL 1979, c. 267, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 24-A Sec. 2440
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- health insurance: means insurance of human beings against bodily injury, disablement or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, and every insurance appertaining thereto, including provision for the mental and emotional welfare of human beings by defraying the costs of legal services only to the extent provided for in chapter 38. See Maine Revised Statutes Title 24-A Sec. 704
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Statute: A law passed by a legislature.
2. Exception. No other statute of this State setting language simplification standards shall apply to any policy forms.
[PL 1979, c. 267, §2 (NEW).]
SECTION HISTORY
PL 1979, c. 267, §2 (NEW).