Chapter 79: RISK-BASED CAPITAL STANDARDS HEADING: PL 1993, C. 634, PT. A, §1 (NEW)
§6459. Supplemental provisions
1. Existing authority supplemented. The provisions of this chapter are supplemental to any other provisions of the laws of this State and do not preclude or limit any other powers or duties of the superintendent under those laws, including, but not limited to, sections 417, 3423 and 3424 and chapter 57.
[ 1997, c. 81, §9 (NEW) .]
2. Rules. The superintendent may adopt rules to carry out the purposes of this chapter. Rules adopted pursuant to this chapter are routine technical rules as defined in Title 5, chapter 375, subchapter II-A.
[ 1997, c. 81, §9 (NEW) .]
3. Exemptions. The superintendent may exempt from the application of this chapter any domestic property and casualty insurer that:
A. Writes business only in the State; [1997, c. 81, §9 (NEW).]
B. Writes direct annual premium of $2,000,000 or less; and [1997, c. 81, §9 (NEW).]
C. Assumes no reinsurance in excess of 5% of direct premium written. [1997, c. 81, §9 (NEW).]
Chapter 79: RISK-BASED CAPITAL STANDARDS HEADING: PL 1993, C. 634, PT. A, §1 (NEW)
§6459. Supplemental provisions
1. Existing authority supplemented. The provisions of this chapter are supplemental to any other provisions of the laws of this State and do not preclude or limit any other powers or duties of the superintendent under those laws, including, but not limited to, sections 417, 3423 and 3424 and chapter 57.
[ 1997, c. 81, §9 (NEW) .]
2. Rules. The superintendent may adopt rules to carry out the purposes of this chapter. Rules adopted pursuant to this chapter are routine technical rules as defined in Title 5, chapter 375, subchapter II-A.
[ 1997, c. 81, §9 (NEW) .]
3. Exemptions. The superintendent may exempt from the application of this chapter any domestic property and casualty insurer that:
A. Writes business only in the State; [1997, c. 81, §9 (NEW).]
B. Writes direct annual premium of $2,000,000 or less; and [1997, c. 81, §9 (NEW).]
C. Assumes no reinsurance in excess of 5% of direct premium written. [1997, c. 81, §9 (NEW).]
Chapter 79: RISK-BASED CAPITAL STANDARDS HEADING: PL 1993, C. 634, PT. A, §1 (NEW)
§6459. Supplemental provisions
1. Existing authority supplemented. The provisions of this chapter are supplemental to any other provisions of the laws of this State and do not preclude or limit any other powers or duties of the superintendent under those laws, including, but not limited to, sections 417, 3423 and 3424 and chapter 57.
[ 1997, c. 81, §9 (NEW) .]
2. Rules. The superintendent may adopt rules to carry out the purposes of this chapter. Rules adopted pursuant to this chapter are routine technical rules as defined in Title 5, chapter 375, subchapter II-A.
[ 1997, c. 81, §9 (NEW) .]
3. Exemptions. The superintendent may exempt from the application of this chapter any domestic property and casualty insurer that:
A. Writes business only in the State; [1997, c. 81, §9 (NEW).]
B. Writes direct annual premium of $2,000,000 or less; and [1997, c. 81, §9 (NEW).]
C. Assumes no reinsurance in excess of 5% of direct premium written. [1997, c. 81, §9 (NEW).]
