§6721. Rules for controlled unaffiliated business
The superintendent may adopt rules establishing standards to ensure that a parent or affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by a pure captive insurance company. In the absence of any rules, the superintendent may approve the coverage of such risks by a pure captive insurance company upon request. Any rules adopted by the superintendent pursuant to this section are routine technical rules as described in Title 5, chapter 375, subchapter 2‑A. [PL 2009, c. 335, §21 (NEW).]
SECTION HISTORY
PL 2009, c. 335, §21 (NEW).
Structure Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 83: CAPTIVE INSURANCE COMPANIES
24-A §6702. Licensing; authority
24-A §6703. Names of companies
24-A §6704. Minimum capital and surplus
24-A §6705. Minimum surplus (REPEALED)
24-A §6706. Formation of captive insurance companies in this State
24-A §6707. Financial statements and other reports
24-A §6708. Examinations and investigations
24-A §6709. Grounds and procedures for suspension and revocation of license
24-A §6712. Rating organizations
24-A §6713. Exemption from compulsory associations
24-A §6714. Delinquent captive insurers
24-A §6715. Confidential information
24-A §6716. Redomestication; approval as a domestic captive insurer
24-A §6717. Redomestication; conversion to foreign insurer
24-A §6720. Fees, taxes and assessments
24-A §6721. Rules for controlled unaffiliated business
24-A §6722. Conversion to or merger with reciprocal insurer