5 §1731-A. Limitation and provision for stop-loss insurance - Maine Statutes

Title 5: ADMINISTRATIVE PROCEDURES AND SERVICES

Part 4: FINANCE

Chapter 152: INSURANCE ON STATE-OWNED PROPERTY HEADING: PL 1965, C. 514, §2 (NEW)

§1731-A. Limitation and provision for stop-loss insurance

Deductible or self-insured retention provisions hereunder may not exceed 25% of the self-insurance fund as of July 1st of the current fiscal year per occurrence with respect to any risk of loss. [1993, c. 470, §3 (AMD).]

The director may purchase such reinsurance of the deductible or self-insured retentions hereunder as he may deem necessary or desirable. The director may purchase such reinsurance protection from companies or agents licensed or approved by the Superintendent of Insurance to do business in the State. [1983, c. 349, §13 (AMD).]

SECTION HISTORY

1971, c. 239, §2 (NEW). 1983, c. 349, §13 (AMD). 1985, c. 534, (AMD). 1989, c. 857, §21 (AMD). 1993, c. 470, §3 (AMD).