Maine Revised Statutes Title 24-A. Maine Insurance Code § 4204-A. Surplus requirements

A. One million dollars;

B. Two percent of the first $150,000,000 of annual premium revenues as reported in the most recent annual financial statement filed with the superintendent by the health maintenance organization, plus 1% of annual premium in excess of $150,000,000;

C. An amount equal to the sum of 3 months' uncovered health care expenditures as reported in the most recent annual financial statement filed with the superintendent by the health maintenance organization;

D. An amount equal to 8% of the health maintenance organization's annual health care expenditures, except those paid on a capitated basis, as reported in the most recent annual financial statement filed with the superintendent by the health maintenance organization; or

E. An amount equal to the company action level risk-based capital as defined in chapter 79.

A. Forty percent of the amount required by subsection 2 until December 31, 1991;

B. Sixty percent of the amount required by subsection 2 until December 31, 1992;

C. Eighty percent of the amount required by subsection 2 until December 31, 1993; and

D. One hundred percent of the amount required by subsection 2 until December 31, 1994.

A. In determining surplus, debt may not be considered fully subordinated unless the subordination clause is in a form approved by the superintendent. Any interest obligation relating to the repayment of any subordinated debt must be similarly subordinated.

B. Any debt incurred by a note that meets the requirements of this section, and is otherwise acceptable to the superintendent, may not be considered a liability and must be recorded as equity.