Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 231 - CERTIFICATES OF AUTHORITY FOR INSURANCE COMPANIES
Section 031-231-6 - Amendment of Certificate of Authority

An Applicant seeking amendment of an existing Certificate of Authority shall submit an application on the most current Uniform Certificate of Authority Corporate Amendment form, or its successor form, published by the National Association of Insurance Commissioners, or its successor organization, and shall provide all information requested therein and such additional information as the Superintendent may request in the course of reviewing the application, sufficient to demonstrate, to the extent applicable to the nature of the proposed amendment, that the Applicant is qualified. When the amendment involves new lines of business or other substantial change in operations, the required showing shall include, without limitation, a demonstration that the insurer has demonstrated a sound business plan and adequate capital and/or surplus to support the new operations consistent with Subsection 3(D). If the Applicant is requesting to add new lines of business to its Certificate of Authority, the Applicant must demonstrate experience consistent with the requirements of Subparagraph 3(E) (1)(d) and all other applicable requirements of Subsection 3(E).