STATE STATUTES & CODES
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MAINE STATUTES AND CODES
24-A §3551. Purpose
Title 24-A: MAINE INSURANCE CODE
Chapter 49: CONTINUITY OF MANAGEMENT
§3551. Purpose
Enemy attack could seriously disrupt the management functions of an insurance organization. Prompt resumption of insurance operations following attack is in the public interest and requires provisions for the continuity of management. It is essential that advance corporate action be taken to provide for the reconstitution of the board of directors or substitute governing body, for the succession of key personnel and for the designation of alternate headquarters. [1969, c. 132, §1 (NEW).]
SECTION HISTORY
1969, c. 132, §1 (NEW).