{"data":{"id":"us-me/24-a-m.r.s.-3622","jurisdiction":"us-me","citation":"24-A M.R.S. §3622","heading":"Nonassessable policies; assessable, nonassessable liability","body":"1.   A mutual insurer heretofore formed and transacting insurance under this chapter may issue nonassessable advance cash premium policies in this State upon compliance with either of the following requirements:\nA.  Surplus. The insurer shall have and maintain a surplus to policyholders, as determined by its last annual statement filed with the superintendent, of not less than $100,000, or\nB.  Surplus and unearned premium reserve. The insurer shall have and maintain a surplus to policyholders, as determined by its latest annual statement filed with the superintendent, of not less than $75,000, provided its unearned premium reserve is at all times less than its surplus to policyholders.\n2.   If such an insurer, after qualifying to issue a nonassessable cash premium policy, fails to maintain one of the above requirements it shall cease to issue a nonassessable policy until it has again met and maintained the requirements for a period of one year.","path":["TITLE 24-A: MAINE INSURANCE CODE","CHAPTER 51: DOMESTIC MUTUAL ASSESSMENT INSURERS"],"source_url":"https://legislature.maine.gov/statutes/24-A/title24-Asec3622.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:33Z","sha256":"0b9e3ce68d39cbbc99b89284b3883169ab216ba76eb7dfce30088243c5ecf9d1","source_id":"us-me","stale":false,"prev":"us-me/24-a-m.r.s.-3621","next":"us-me/24-a-m.r.s.-3623"},"notice":"GroundRules: Original legal text. Not legal advice."}