Before the effective date of any policy placed with a controlled insurer by a controlling producer or a controlling producer's subproducer, the controlling producer shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain and enforce a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the controlling producer and that the subproducer has notified or will notify the insured.
Me. Rev. Stat. tit. 24-A, § 6405
Disclosure
Known as the Maine Business Transacted with Producer-controlled Insurer Act
The act spans §§ 6401–6407 (7 sections).
RR 1991, c. 2, §94 (COR)
Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.