Terms Used In Maine Revised Statutes > Title 24-A > Chapter 40 - Mass Marketing of Casualty and Property Insurance

• Balanced budget: A budget in which receipts equal outlays.
• Casualty insurance: means all contracts of insurance covered by section 707. See Maine Revised Statutes Title 24-A Sec. 2932
• Derivative proceeding: means a civil suit in the right of a domestic corporation or, to the extent provided in section 758, in the right of a foreign corporation. See Maine Revised Statutes Title 13-C Sec. 751
• Mass marketing plan: means a method of selling property and casualty insurance wherein such insurance is offered to employees of particular employers or to members of particular associations or organizations or to persons grouped in other ways and the employer, association or organization has agreed to or otherwise affiliated itself with, or facilitated, the sale of such insurance to its employees or members and employees and includes without limitation such plans whether described as "mass merchandising" "group merchandising" "franchise merchandising" or "collective merchandising. See Maine Revised Statutes Title 24-A Sec. 2932
• Property insurance: means all contracts of insurance covered by section 705. See Maine Revised Statutes Title 24-A Sec. 2932
• Shareholder: includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the beneficial owner's behalf. See Maine Revised Statutes Title 13-C Sec. 751