United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 24-A, § 6721: Rules for controlled unaffiliated business, 2009

The superintendent may adopt rules on how control of risk management must be possible for certain insured businesses, and may approve coverage of those risks if no rules are in place.

captive insurancecoverage approvalrisk management

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01

Purpose and legislative effect

“The superintendent may adopt rules on how control of risk management must be possible for certain insured businesses, and may approve coverage of those risks if no rules are in place.”

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    Enacted 2009 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Rules for controlled unaffiliated business

The superintendent may adopt rules on how control of risk management must be possible for certain insured businesses, and may approve coverage of those risks if no rules are in place.

Section 6721

04

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Source record from legislature.maine.gov · Enacted 2009 · Source version 1 Oct 2025

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Provision
§ 6721Rules for controlled unaffiliated businessProvision

The superintendent may adopt rules on how control of risk management must be possible for certain insured businesses, and may approve coverage of those risks if no rules are in place.

The superintendent may adopt rules establishing standards to ensure that a parent or affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by a pure captive insurance company. In the absence of any rules, the superintendent may approve the coverage of such risks by a pure captive insurance company upon request. Any rules adopted by the superintendent pursuant to this section are routine technical rules as described in Title 5, chapter 375, subchapter 2‑A. [PL 2009, c. 335, §21 (NEW).]
Section 6721Verify source

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  • 1 Oct 2025 · currentEnglish

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