Maine Revised Statutes Title 24-A Sec. 1412 – Prohibited activities
Current as of: 2023 | Check for updates
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1. License revocation. A person whose license as an insurance producer, consultant or adjuster has been revoked, suspended, denied for cause or voluntarily surrendered to avoid prosecution in this State may not participate in any manner in the conduct of an insurance business entity, whether an agency or insurance brokerage or consulting or adjusting business.
[PL 2001, c. 259, §13 (AMD).]
Attorney's Note
Under the Maine Revised Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class E crime | up to 6 months | up to $1,000 |
Terms Used In Maine Revised Statutes Title 24-A Sec. 1412
- Adjuster: means any individual who, as an independent contractor or as an employee of an independent contractor, or as an employee of another organization, for fee, commission or other compensation, investigates for, settles on behalf of and reports to an insurer, fraternal benefit society, workers' compensation self-insurer or insured relative to claims arising under the workers' compensation laws or other types of insurance contracts. See Maine Revised Statutes Title 24-A Sec. 1402
- Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership or other legal entity. See Maine Revised Statutes Title 24-A Sec. 1402
- Consultant: means any individual who, for a fee, advises or offers to advise any person insured or seeking insurance or named or to be named as beneficiary, or having or to have any interest in or insured under any property and casualty or life and health insurance contract or annuity contract, existing or proposed. See Maine Revised Statutes Title 24-A Sec. 1402
- Conviction: A judgement of guilt against a criminal defendant.
- Insurance producer: means a person required to be licensed under subchapter II?A to sell, solicit or negotiate insurance. See Maine Revised Statutes Title 24-A Sec. 1402
- License: means a document issued by the superintendent authorizing a person to act as an insurance producer, adjuster or consultant for kinds of insurance specified in the document as authorized in this chapter. See Maine Revised Statutes Title 24-A Sec. 1402
2. Compensation. A person whose license as an insurance producer, consultant or adjuster has been revoked, suspended, denied for cause or voluntarily surrendered to avoid prosecution may not derive any compensation, by whatever name called, based on the operation of the insurance business entity in which the person was engaged or employed prior to the revocation, suspension, denial or surrender of license. This subsection does not prohibit a person from receiving compensation for activities that the person engaged in prior to any loss of license referred to in this section, nor does it prohibit any person from divesting an interest in an insurance company or agency for value.
[PL 2001, c. 259, §13 (AMD).]
3. Relicensure. Nothing in this section prohibits any rights a person may have to seek relicensure under section 1418.
[PL 1997, c. 457, §23 (NEW); PL 1997, c. 457, §55 (AFF).]
4. Violations. Any person violating this section is guilty of a Class E crime and may be punished upon conviction, by a fine of not less than $100 nor more than $1,000, or by imprisonment for not more than 6 months, or by both.
[PL 1997, c. 457, §23 (NEW); PL 1997, c. 457, §55 (AFF).]
SECTION HISTORY
PL 1997, c. 457, §23 (NEW). PL 1997, c. 457, §55 (AFF). PL 2001, c. 259, §13 (AMD).