§786. Affiliation
Notwithstanding the provisions of section 222, the special purpose reinsurance vehicle, the special purpose reinsurance vehicle organizer or subsequent debt or equity investors in special purpose reinsurance vehicle securities are not deemed affiliates of the ceding insurer by virtue of the special purpose reinsurance vehicle contract between the ceding insurer and the reinsurance vehicle, the securities of the reinsurance vehicle or related agreements necessary to implement the special purpose reinsurance vehicle insurance securitization. [PL 2007, c. 386, §15 (AMD).]
SECTION HISTORY
PL 2003, c. 249, §2 (NEW). PL 2007, c. 386, §15 (AMD).
Structure Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE
Subchapter 6: SPECIAL PURPOSE REINSURANCE VEHICLE
24-A §782. Limited certificate of authority required
24-A §783. Limited purpose of special purpose reinsurance vehicle
24-A §784. Approved transactions and operation of special purpose reinsurance vehicles
24-A §789. Records and financial reports
24-A §790. Officers and directors
24-A §793. Conservation, rehabilitation or liquidation
24-A §794. Not subject to guaranty funds; residual market or similar arrangements
24-A §795. Asset and investment limitations
24-A §796. No transaction of insurance business by investors in securities
24-A §796-A. Confidentiality of proprietary information