Maine Revised Statutes Title 24-A Sec. 3605 – Formation of new assessment plan insurers
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Terms Used In Maine Revised Statutes Title 24-A Sec. 3605
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Assessment plan insurers must be formed under the applicable provisions of sections 3306 (incorporation of domestic stock, mutual insurers) to 3309 (completion of incorporation; general powers, duties), except that the articles of incorporation of the corporation must stipulate that the corporation is formed to transact insurance on the assessment plan and other provisions contained in the certificate must be consistent with the applicable provisions of this chapter. [PL 2013, c. 299, §20 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 2013, c. 299, §20 (AMD).