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Maine Revised Statutes Title 5. Administrative Procedures and Services § 18651. Authorization

Current as of January 01, 2025 | Updated by Findlaw Staff

The board, and only the board, may purchase for the retirement system, from one or more life insurance companies, a policy or policies of life insurance, as defined by Title 24-A, section 702.

1. Procedure. Proposals for the purchase of insurance may be solicited from one or more insurance companies on a competitive basis or an existing policy or policies may be renegotiated.

2. Licensed company. Any policy or policies purchased shall be purchased from a company or companies licensed under the laws of this State.

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Cite this article: FindLaw.com - Maine Revised Statutes Title 5. Administrative Procedures and Services § 18651. Authorization - last updated January 01, 2025 | https://codes.findlaw.com/me/title-5-administrative-procedures-and-services/me-rev-st-tit-5-sect-18651/

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