24-A M.R.S. §4205-A: Continuity of licensure; business combinations

When a health maintenance organization authorized pursuant to this chapter merges or consolidates with an insurer or a nonprofit hospital, medical or health care service organization and operations of the surviving entity include those of a health maintenance organization, the surviving entity succeeds on a continuing basis to the authority possessed by the merging entities if:

1. Plan approved. The superintendent has approved the plan of merger or consolidation, pursuant to section 4203, subsection 1;

2. Entity financially qualified. The entity is financially qualified pursuant to the provisions of sections 410 and 4204‑A; and

3. Entity otherwise qualified. The entity is otherwise qualified pursuant to this chapter.