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Maine.gov > PFR Home > Insurance Regulation> Administrative & Enforcement Actions > INS 99-14 : Hearing Decision
STATE OF MAINE
The Superintendent ’ s May 25, 2000 Decision and Order ( “ Decision ” ) in these consolidated cases in part set certain conditions on the activities of the Liquidating Trust and Closing Tax Reserve.1 The Liquidating Trust ’ s initial term was three years according to paragraph 8 of the Decision, which also gave the Maine Health Access Foundation the authority to extend the term. The Maine Health Access Foundation, Inc. extended the term, according to information received from the Liquidating Trustee. See Attachment A. On August 2, 2006, the Bureau of Insurance sent a letter to the Liquidating Trustee asking that he report on the status of the Liquidating Trust and the Closing Tax Reserve, including current activities relating to their operation and when the Liquidating Trustee would conclude them. See Attachment B. The Liquidating Trustee ’ s September 1, 2006 response suggests that the activities of the Liquidating Trust and the Closing Tax will conclude between late 2006 and July 16, 2007. See Attachment C. Such activities include resolving certain income tax liabilities with the Internal Revenue Service.
The Superintendent ORDERS that the Liquidating Trustee shall:
The Superintendent reserves the right to take such action as he deems advisable should it appear that the affairs of the Liquidating Trust and the Closing Tax Reserves will not be settled and their remaining funds distributed to the Maine Health Access Foundation, Inc. by July 16, 2007.
¹ Terms used but not defined in this Order have the meanings given them in the May 25, 2000 Decision.
PER ORDER OF THE SUPERINTENDENT OF INSURANCE
April 22, 2004 letter from Liquidating Trustee
Bureau of Insurance August 2, 2006 letter
September 1, 2006 letter from the Liquidating Trustee
Last Updated: January 21, 2014
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