Me. Rev. Stat. » Title 24-A
Maine Revised Statutes

Me. Rev. Stat. tit. 24-A, § 411 (2026)

Insuring combinations without additional capital funds

✓ current as of May 2026
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Without additional paid-in capital stock or additional surplus, an authorized insurer may also be authorized:   [PL 1969, c. 132, §1 (NEW).]
1.  If a life insurer, to grant annuities;  
[PL 1969, c. 132, §1 (NEW).]
2.  If a health insurer, to insure against congenital defects, as defined in section 707;  
[PL 1969, c. 132, §1 (NEW).]
3.  If a casualty insurer or multiple line insurer, to transact health insurance; except that this provision does not apply to a domestic insurer authorized to transact casualty insurance only, pursuant to section 410, subsection 1, paragraph A; or  
[PL 1991, c. 385, §3 (AMD).]
4.  To transact employee benefit excess insurance to the extent authorized pursuant to section 707, subsection 3.  
[PL 1991, c. 385, §4 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1991, c. 385, §§3,4 (AMD).
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Notes of Decisions
Cited in 2 cases, 1992–1993 · leading case: Texas Com. Bank v. Garamendi, 92 Cal. Daily Op. Serv. 9744 (Cal. Ct. App. 1992).
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Texas Com. Bank v. Garamendi, 92 Cal. Daily Op. Serv. 9744 (Cal. Ct. App. 1992). “5-030 Banks-Baldwin (1988); Me. Rev. Stat. Ann. tit. 24-A, §§ 411, subd.”
Variable Annuity Life Ins. v. Clarke, 998 F.2d 1295 (5th Cir. 1993). “§ 22:6(1) (West 1969); Me.Rev. Stat.Ann. tit. 24-A, § 411 (1990); Md.”
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