Maine Revised Statutes
Subchapter 4: REINSURANCE INTERMEDIARIES
24-A §746. Duties of insurers utilizing the services of a reinsurance intermediary-broker

§746. Duties of insurers utilizing the services of a reinsurance intermediary-broker
1.  License requirements.  An insurer may not engage the services of any person to act as a reinsurance intermediary-broker on the insurer's behalf unless that person is licensed as required by this subchapter.  
[PL 1991, c. 828, §20 (NEW).]
2.  Status of intermediary-broker.  An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which the insurer transacts business, unless such reinsurance intermediary-broker is under common control with the insurer and subject to section 222.  
[PL 1991, c. 828, §20 (NEW).]
3.  Financial statements.  The insurer shall annually obtain a copy of statements of current origin of the financial condition of each reinsurance intermediary-broker with which the insurer transacts business. These statements must be certified reports or reviews performed by a certified public accountant.  
[PL 1991, c. 828, §20 (NEW).]
SECTION HISTORY
PL 1991, c. 828, §20 (NEW).

Structure Maine Revised Statutes