Maine Revised Statutes Title 24 Sec. 2306 – Reports
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Terms Used In Maine Revised Statutes Title 24 Sec. 2306
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- organization: means a corporation or other entity authorized by the superintendent or organized pursuant to this chapter for the purpose of providing nonprofit hospital service plans within the meaning of subsection 1, nonprofit medical service plans within the meaning of subsection 2 and any organization that provides only nonprofit health care plans within the meaning of subsection 3. See Maine Revised Statutes Title 24 Sec. 2301
- superintendent: means the Superintendent of Insurance of this State; and
Every corporation organized under this chapter shall file in the office of the superintendent annual and quarterly financial statements substantially similar to those required of health insurers under Title 24?A, sections 423, 423?A and 423?D verified by at least 2 of the principal officers of that corporation. The statement must be on an annual or quarterly statement blank of the National Association of Insurance Commissioners for use by nonprofit hospital or medical service corporations, be prepared in accordance with the association’s annual or quarterly statement instructions, follow practices and procedures prescribed by the association’s accounting practices and procedures manual and be accompanied by any useful or necessary modification or adaptation and any additional information required by the superintendent. The superintendent may by rule or order require the filing of more frequent reports. [PL 2017, c. 169, Pt. A, §1 (AMD).]
A nonprofit hospital or medical service corporation that controls and operates a health maintenance organization as a division or line of business of the corporation shall file on a continuing basis any additional periodic financial reports required by Title 24?A, section 4208. [PL 2017, c. 169, Pt. A, §1 (AMD).]
SECTION HISTORY
PL 1973, c. 585, §12 (AMD). PL 1993, c. 702, §A3 (AMD). PL 1997, c. 592, §3 (AMD). PL 2017, c. 169, Pt. A, §1 (AMD).