§3611. Guaranty capital shares; increase of paid-in capital
If an insurer heretofore or hereafter has been authorized to transact insurance upon the basis of guaranty capital shares not 100% paid-in, the unpaid portion of such guaranty or so much thereof as the superintendent deems necessary, shall be paid in at such times as in the opinion of the superintendent is necessary for the adequate protection of the policyholders. [PL 1973, c. 585, §1 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD).
Structure Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS
24-A §3603. Mutual assessment plans; definitions
24-A §3604. Insuring powers; reinsurance
24-A §3605. Formation of new assessment plan insurers
24-A §3606. Certificate of authority required
24-A §3607. Capital funds required; existing insurers
24-A §3608. Capital funds required; new mutual assessment insurers
24-A §3609. New assessment plan insurers; conversion
24-A §3610. Guaranty capital shares; dividends, investment, deposit, voting rights
24-A §3611. Guaranty capital shares; increase of paid-in capital
24-A §3612. Guaranty capital shares; deficiency and assessment
24-A §3613. Guaranty capital shares; retirement
24-A §3614. Notice of contingent liability; reduction
24-A §3615. Delivery, acceptance of policy
24-A §3616. Assessment; remedy if not paid
24-A §3617. Assessment -- court review; adjustment of claims where no assessment made
24-A §3618. -- order of notice to parties interested, and proceedings
24-A §3619. Proceedings before master or auditor
24-A §3620. -- when assessment final; costs; control of funds and payment of assessments
24-A §3621. -- assessment not sufficient; collection stayed by court
24-A §3622. Nonassessable policies; assessable, nonassessable liability
24-A §3624. Unearned premium reserve
24-A §3625. Directors' residence, compensation
24-A §3626. Annual statement by directors