Maine Revised Statutes Title 24-A. Maine Insurance Code § 1112. Preferred or guaranteed stocks

A. The earnings of such institution available for its fixed charges for a period of 5 fiscal years next preceding the date of acquisition by the insurer shall have averaged per year not less than 1 1/2 times the sum of its average annual fixed charges, if any, its average annual maximum contingent interest, if any, and its average annual preferred dividend requirements applicable to such period; and

B. During either of the last 2 years of such period such net earnings shall have been not less than 1 1/2 times the sum of its fixed charges, contingent interest and preferred dividend requirements for such year. The term “preferred dividend requirements” shall be deemed to mean cumulative or noncumulative dividends whether paid or not.