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Maine.gov > PFR Home > Insurance Regulation> Administrative & Enforcement Actions > Document 179 : INS 99-14 : Hearing Decision
STATE OF MAINE
DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
BUREAU OF INSURANCE
Pursuant to 24 M.R.S.A. § 2301(9-D)(I)(2) in reviewing a conversion plan filed by a nonprofit hospital and medical service organization, the Superintendent must determine whether the appraisal of the fair market value of the aggregate equity of the converted stock insurer to be outstanding upon completion of the conversion was conducted by persons "independent of the organization, experienced and expert in the area of corporate appraisal and acceptable" to the Superintendent. In the interest of efficiency and cost effectiveness the Superintendent believes such a determination should be made prior to the close of discovery.
The Superintendent will hold a prehearing conference on February 1, 2000 commencing at 1:00 p.m. at the Bureau of Insurance offices at 124 Northern Avenue, Gardiner, Maine. Parties may appear in person or by telephone. The purpose of the prehearing conference will be to take evidence and argument as to the qualifications and independence of HLHZ. Any party intending to present witnesses at the prehearing conference must notify the Superintendent and all parties of the name, professional affiliations, and summary of testimony for each witness no later than 3:00 p.m. on January 21, 2000.
Following the prehearing conference the Superintendent will rule on the independence and qualifications of HLHZ. Any finding that HLHZ is qualified to conduct an appraisal of the organization in the pending matter will not impact the ability of any party to test the credibility during subsequent hearings of any testimony or analysis presented or conclusions reached on behalf of HLHZ.
PER ORDER OF THE SUPERINTENDENT
Last Updated: January 21, 2014
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