Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
031 - BUREAU OF INSURANCE
Chapter 860 - ALIEN INSURERS; PORT OF ENTRY
Section 031-860-4 - Authorization of Entry

(1) Qualifying as an insurer licensed to do business in this state; and

(2) Establishing a trust account, pursuant to a trust agreement approved by the Superintendent with a U.S. Bank approved by the Superintendent, in an amount at least equal to the greater of the minimum capital and surplus r authorized control level risk based capital required to be maintained by a domestic insurer licensed to do the same kind of insurance.

(1) submit a copy of its charter and by-laws, if any, currently in force, and such other documents necessary to show the kinds of business which it is empowered to do in its domiciliary jurisdiction, attested to as accurate and complete by the insurance supervisory official in its home jurisdiction, and a full statement, subscribed and affirmed as true under the penalties of perjury by two officers or equivalent responsible representatives in such manner as the Superintendent shall prescribe, of its financial conditions as of the close of its latest fiscal year, showing its assets, liabilities, income disbursements, business transacted and other facts required to be shown in its annual statement, as reported to the insurance supervisory official in its home jurisdiction; an English language translation, as necessary, of any of the documents required herein; and

(2) submit to an examination of the insurer's affairs at its principal office within the United States, which must be located in Maine, or, to the extent determined acceptable in the sole discretion of the Superintendent, submit a report of examination of the insurer's affairs done by the insurance supervisory official of the insurer's home jurisdiction.