02-031 C.M.R. ch. 630, § 5 - Reporting, transfers

1. Each insurer shall report annually, on or before September 1, the assessments collected on policies issued between July 1 of the prior year and June 30 of the current year. The report shall contain the name of each physician, hospital, or physician's employer, the physician's Maine license number, the policy number, the policy effective date, and the assessment collected or credited. This detailed report shall be made available in an electronic format acceptable to the Superintendent. The insurer shall also report in aggregate, on a quarterly basis, funds collected, interest earnings, disbursements, and a net balance. The quarterly statements are due at the Bureau within 30 days of the end of each calendar quarter.

2. If an insurer reports or projects a negative fund balance or if the Superintendent finds that transfers of funds are desirable to effectively administer the Program, the Superintendent may order intercompany transfers among insurers.

Notes

02-031 C.M.R. ch. 630, § 5