Maine Revised Statutes Title 24-A. Maine Insurance Code § 2807-A. Credit union groups

1. The members eligible for insurance are all of the members of the credit union or credit unions or all of any class or classes thereof.

2. The premium for the policy shall be paid either from funds of the credit union or from funds contributed by the insured members specifically for their insurance, or from both. Except as provided in subsection 3, a policy on which no part of the premium is to be derived from funds contributed by the insured members specifically for their insurance must insure all eligible members, except those who reject the coverage in writing.

3. Except as provided in section 2736-C, section 2808-B and chapter 36,  1 an insurer may exclude or limit the coverage on any member as to whom evidence of individual insurability is not satisfactory to the insurer.