Rates And Rating Organizations (24-A M.R.S. 2301 et seq.)

What this document is

Maine Revised Statutes Title 24-A Chapter 25 - Rates And Rating Organizations (24-A M.R.S. 2301 et seq.) is a state statute published by Maine Legislature, Office of the Revisor of Statutes (legislature.maine.gov). It is one of the Maine documents that insurance license exam questions are written from, including maine property & casualty, maine personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 24-A M.R.S. § 2325(4) (Assigned risks: participation required)

  “4. When the plan referred to in subsection 2 or amendments thereto have been approved or promulgated, no insurer shall thereafter issue a policy of automobile and motor vehicle bodily injury, property damage liability, physical damage and medical payments insurance or undertake to transact such...”

• 24-A M.R.S. § 2325(6) (Assigned risks: maximum limits of the Maine Automobile Insurance Plan)

  “6. The maximum limits of liability insurance offered by the Maine Automobile Insurance Plan for a personal automobile policy may not be less than $250,000 per person for bodily injury liability, $500,000 per occurrence for bodily injury liability and $100,000 for property damage liability.”

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