Maine Revised Statutes Title 24 Sec. 2332-I – Effective date of cancellation
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Terms Used In Maine Revised Statutes Title 24 Sec. 2332-I
- Contract: A legal written agreement that becomes binding when signed.
- in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72
- organization: means a corporation or other entity authorized by the superintendent or organized pursuant to this chapter for the purpose of providing nonprofit hospital service plans within the meaning of subsection 1, nonprofit medical service plans within the meaning of subsection 2 and any organization that provides only nonprofit health care plans within the meaning of subsection 3. See Maine Revised Statutes Title 24 Sec. 2301
- Subscriber: means an individual who has subscribed to one or more of the hospital, medical or health care service plans or contracts offered or issued by the organization or health insurance affiliate as defined in section 2308?A through an individual or family policy or group policy. See Maine Revised Statutes Title 24 Sec. 2301
Contracts that do not provide for any refund of premium when a subscriber requests cancellation prior to the end of the period for which premiums have been paid must state that no refund is payable and that the cancellation will take effect at the end of the period for which premiums have been paid unless the subscriber requests an earlier cancellation date. If a subscriber requests cancellation of a contract before the end of the period for which premiums have been paid, then the nonprofit hospital or medical service organization must inform the subscriber in writing that no refund is payable and give the subscriber an opportunity to amend the cancellation request to take effect at the end of the period for which premiums have been paid. [PL 1997, c. 604, Pt. F, §1 (NEW).]
SECTION HISTORY
PL 1997, c. 604, §F1 (NEW).