§1442. Authority of insurance producer

Link to law: http://legislature.maine.gov/legis/statutes/24-A/title24-Asec1442.html
Published: 2015

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§1442. Authority of insurance producer








1. Licensed insurance producer. 
A licensed insurance producer in this State may:





A. Engage in insurance producer activities throughout this State within the authority
granted the insurance producer by the insurer, health maintenance organization, fraternal
benefit society, or nonprofit hospital or medical service organization and the scope
of the producer's license; [1997, c. 457, §23 (NEW); 1997, c. 457, §55 (AFF).]











B. Adjust the losses of the insurer or fraternal benefit society within the authority
granted the insurance producer by the insurer or fraternal benefit society; [1997, c. 457, §23 (NEW); 1997, c. 457, §55 (AFF).]











C. Not place or seek to place insurance coverage, other than with an insurer, health
maintenance organization, fraternal benefit society or nonprofit hospital association
for which the insurance producer holds an appointment, except as provided under section
1450, subsection 2. A licensed resident or a nonresident insurance producer may not
place or seek to place insurance coverage other than in an authorized insurer, health
maintenance organization, fraternal benefit society or nonprofit hospital or medical
service organization, except as provided in chapter 19; and [1997, c. 457, §23 (NEW); 1997, c. 457, §55 (AFF).]











D. Enter into a contract or arrangement with a financial institution for the purpose
of participating in a finance program with the financial institution. In this case,
the financial institution need not be licensed as a producer, as long as the purpose
of the arrangement is to authorize an insurance producer to facilitate, direct or
refer insureds, prospective insureds or other customers to the financial institution
for loans or for the purpose of authorizing an insurance producer to facilitate arrangements
for leases, loans or credit applications with the financial institution. [1997, c. 457, §23 (NEW); 1997, c. 457, §55 (AFF).]








[
1997, c. 457, §23 (NEW);
1997, c. 457, §55 (AFF)
.]





SECTION HISTORY

1997, c. 457, §23 (NEW).
1997, c. 457, §55 (AFF).