24-A §3907. Reinsurance Association Reserve - Maine Statutes

Title 24-A: MAINE INSURANCE CODE

Chapter 54: MAINE INDIVIDUAL REINSURANCE ASSOCIATION

§3907. Reinsurance Association Reserve

1. Reserve established. The Reinsurance Association Reserve is established within the Dirigo Health Enterprise Fund as an account for the deposit of funds as required by subsection 2.

[ 2007, c. 629, Pt. A, §8 (NEW) .]

2. Funds. The Reinsurance Association Reserve is capitalized by money from the Dirigo Health Enterprise Fund, as established pursuant to section 6915, and any other fund advanced for initial operating expenses, any funds received from any public or private source, legislative appropriations, payments from state departments and agencies and such other means as the Legislature may approve. All money in the Reinsurance Association Reserve may be used only by the association for the purposes of this section. Funds in the reserve do not lapse, but must be carried forward to carry out the purposes of this chapter.

[ 2007, c. 629, Pt. A, §8 (NEW) .]

SECTION HISTORY

2007, c. 629, Pt. A, §8 (NEW).