Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 160 - ELIGIBLE SURPLUS LINES INSURERS SUMMARY REQUIREMENTS FOR ELIGIBILITY STATUS TO TRANSACT "EXPORT LINES" OF INSURANCE REGARDING RISKS RESIDENT, LOCATED OR TO BE PERFORMED IN MAINE
Section 031-160-4 - Specific filings
Universal Citation: 02 ME Code Rules ยง 031-160-4
Current through 2024-38, September 18, 2024
A. Every insurer applying for eligibility status shall make an initial filing to the Bureau of Insurance. Such filing shall include:
1. A
written application on forms to be supplied by the Superintendent. The
application shall contain among other things:
a. A name and home office address of the
insurer.
b. The location of its
principal office in the United States.
c. The names of officers principal to the
conduct of the insurance company business.
d. Whether a stock, mutual, reciprocal or
other type of business organization.
e. The application shall be signed under oath
by the chief operations officer of the company.
f. Such other information as may be from time
to time deemed necessary and appropriate by the Superintendent.
2. If the company is a
corporation, a copy of its Charter and By-Laws.
3. If the applicant is an alien insurer or if
a reciprocal, an exchange, or association, or a Lloyd's, a copy of the power of
attorney.
4. If the applicant is a
foreign insurer, Certificates of Compliance and Deposit from the domiciliary
state.
5. A certified copy of the
last annual statement filed as required with the supervisory official in the
State or Country of domicile of the insurer.
6. A copy of the last report of examination
by the supervisory official in the State or Country of domicile of the
insurer.
7. A listing of reinsurers
to whom the insurance company cedes risks of insurance.
8. Appointment of the Superintendent of
Insurance as the company's attorney to accept Service of Process.
9. Such other information as the
Superintendent may from time to time deem necessary and appropriate.
B. If the insurer is a United States corporation, on or before April 15 of each year succeeding the initial filing or if the insurer is an alien corporation (organized pursuant to laws of countries other than the United States) within 75 days subsequent to the close of its elected fiscal year but not later than September 30 in any calendar year, such insurer shall:
1. File with the
Insurance Superintendent a certified copy of the annual statement for the year
immediately preceding.
2. File such
other information as the Superintendent may deem necessary.
C. Such other information which effects a change to any previous filing shall be submitted by the insurer on a timely basis during any interim period.
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