Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 231 - CERTIFICATES OF AUTHORITY FOR INSURANCE COMPANIES
Section 031-231-8 - Issuance of Certificate of Authority

Universal Citation: 02 ME Code Rules ยง 031-231-8

Current through 2024-38, September 18, 2024

A. Grant of Application

If the Applicant satisfies the applicable requirements of this Rule and the Superintendent finds no ground for denying the application pursuant to Section 9, the Superintendent shall promptly issue the Applicant a Certificate of Authority.

B. Conditional Licensure

If the Superintendent determines upon reviewing the application that the Applicant is qualified to transact insurance in this State only for a specialized or limited purpose, or that conditional licensure is otherwise necessary in order to provide adequate assurance that the Applicant is qualified to transact insurance in this State, the Superintendent shall issue, concurrently with the decision to grant licensure, a written order specifying the conditions of licensure and, if applicable, the procedures and criteria by which the Applicant may obtain an unconditional Certificate of Authority.

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