# 24-A M.R.S. § 4606: 24-A §4606. Creation of the association

> Maine · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4606

## Section

- **Citation:** 24-A M.R.S. § 4606
- **Heading:** 24-A §4606. Creation of the association
- **Jurisdiction:** Maine
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** ME Code / Title 24-A / Chapter 62 / Section 4606

## Text

1. Creation. There is created a nonprofit legal entity to be known as the Maine Life and Health Insurance Guaranty Association. All member insurers must be and remain members of the association as a condition of their authority to transact insurance or health maintenance organization business in this State. The association shall perform its functions under the plan of operation established and approved under section 4610 and shall exercise its powers through a board of directors established under section 4607 . For purposes of administration and assessment, the association shall maintain 3 accounts: A. The health insurance account; [PL 1983, c. 846 (NEW).] B. The life insurance account; and [PL 1983, c. 846 (NEW).] C. The annuity account, which must include annuity contracts owned by a governmental retirement plan or its trustee established under Section 401, Section 403(b) or Section 457 of the United States Internal Revenue Code. [PL 2005, c. 346, §6 (AMD); PL 2005, c. 346, §16 (AFF).] [PL 2017, c. 382, §14 (AMD).]

2. Supervision of association. The association is under the immediate supervision of the superintendent and is subject to the applicable provisions of the insurance laws of this State. Meetings or records of the association may be open to the public upon majority vote of the board of directors of the association. [PL 2005, c. 346, §6 (AMD); PL 2005, c. 346, §16 (AFF).]

## Nearby sections

- [24-A M.R.S. § 4601 24-A §4601. Short title](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4601.md)
- [24-A M.R.S. § 4602 24-A §4602. Purpose](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4602.md)
- [24-A M.R.S. § 4603 24-A §4603. Scope](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4603.md)
- [24-A M.R.S. § 4604 24-A §4604. Construction](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4604.md)
- [24-A M.R.S. § 4605-A 24-A §4605-A. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4605-A.md)
- [24-A M.R.S. § 4606 24-A §4606. Creation of the association](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4606.md)
- [24-A M.R.S. § 4607 24-A §4607. Board of directors](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4607.md)
- [24-A M.R.S. § 4608 24-A §4608. Powers and duties of the association](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4608.md)
- [24-A M.R.S. § 4609 24-A §4609. Assessments](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4609.md)
- [24-A M.R.S. § 4610 24-A §4610. Plan of operation](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4610.md)
- [24-A M.R.S. § 4611 24-A §4611. Duties and powers of the superintendent](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4611.md)
- [24-A M.R.S. § 4612-A 24-A §4612-A. Prevention of impairments and insolvencies](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4612-A.md)
- [24-A M.R.S. § 4613 24-A §4613. Appointment of association nominee](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4613.md)
- [24-A M.R.S. § 4614 24-A §4614. Miscellaneous provisions](https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4614.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ME_T24-A_C62_S4606. Check the current official text before relying on it. Not legal advice.