§425-A. Contract to participate in finance program
An authorized insurer may enter into a contract or arrangement with a financial institution for the purpose of participating in a finance program with the financial institution. In this case, the financial institution need not be licensed as a producer, as long as the purpose of the arrangement is to authorize an insurer to direct or refer insureds, prospective insureds or other customers to the financial institution for loans, or for the purpose of authorizing an insurer to facilitate arrangements for leases, loans or credit applications with the financial institution. This section does not exempt persons from otherwise complying with applicable state or federal laws relating to entering into such contracts. [PL 1997, c. 457, §16 (NEW).]
SECTION HISTORY
PL 1997, c. 457, §16 (NEW).
Structure Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 5: AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS
Subchapter 1: AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS
24-A §400. "Stock" insurer defined
24-A §401. "Mutual" insurer defined
24-A §402. "Reciprocal"; "Lloyd's" insurer defined
24-A §404. Certificate of authority required; enforcement; penalty
24-A §405. Exceptions to certificate of authority requirement
24-A §406. General eligibility for certificate of authority
24-A §407. Same; ownership, management
24-A §409. Insurance lines combinations
24-A §410. Minimum paid-in capital and surplus requirements
24-A §411. Insuring combinations without additional capital funds
24-A §413. Application for certificate of authority
24-A §413-A. Alien insurer; port of entry
24-A §414. Issuance, refusal of authority, ownership of certificate
24-A §415. Continuation of certificate of authority
24-A §415-A. Termination of certificate of authority
24-A §416. Petition for suspension or revocation of certificate of authority; mandatory grounds
24-A §417. Suspension or revocation of certificate of authority; discretionary and special grounds
24-A §418. Power to amend, modify or refuse to renew certificates of authority
24-A §418-A. Order, notice of suspension or, revocation; publication; effect upon agents' authority
24-A §419. Duration of suspension; insurer's obligation during suspension period; reinstatement
24-A §420. General corporation laws inapplicable to foreign insurers
24-A §421. Superintendent process agent for insurers
24-A §422. Serving process (REPEALED)
24-A §423-A. Interim financial reporting requirements
24-A §423-B. Periodic financial reports of insurer-controlled health maintenance organizations
24-A §423-C. Reports of material transactions
24-A §423-D. Annual report supplement
24-A §423-E. Report to Legislature (REPEALED)
24-A §423-F. Own risk and solvency assessment
24-A §423-G. Corporate governance annual disclosure
24-A §424. -- penalty for late or false statement
24-A §425. Transactions with parent corporation, subsidiaries, and affiliates
24-A §425-A. Contract to participate in finance program
24-A §426. Resident agent; countersignature law (REPEALED)