PUBLIC Law Chapter 171

provisions set forth in subsection 5, paragraph I as the court

determines are reasonable under the circumstances, together with

any additional provisions as the court determines are reasonably

required to coordinate the modified charitable trust plan with any

proceeding instituted or to be instituted by the superintendent in

connection with the material change in form. The Superior Court,

after hearing, shall approve, approve with modifications or

disapprove the modified charitable trust plan. The superintendent

has the right to intervene in the Superior Court proceeding. In

the event that either the superintendent or the court determines

that a valuation of the organization is necessary, the

superintendent shall conduct the valuation consistent with Title

24, section 2301, subsection 9-D. The superintendent may hold

proceedings as the superintendent determines necessary to review an

organization's proposal to materially change its form. If the

modified charitable trust plan includes the creation of a

charitable trust or ~~nonprofit~~ public benefit corporation, the

charitable trust or ~~nonprofit~~ public benefit corporation may not

include the organization or any person controlled by the

organization.

Sec. 8. 5 MRSA §194-A, sub-§7,¶¶B to D, as enacted by PL 1997, c. 344,
§1, are amended to read:

B. Each health insurance affiliate shall expressly have
corporate purposes that are consistent with or are in
furtherance of the charitable and benevolent purposes of its
~~nonprofit and charitable~~ public charity owners.

(1) Subject to subparagraph (2), the health insurance
affiliate may further its purposes as described in this
paragraph by:

(a) The provision of direct services that are
consistent with or further the charitable and
benevolent purposes of its ~~nonprofit and~~
~~charitable~~ public charity owners; or

(b) The payment of distributions or dividends to
any ~~nonprofit and charitable~~ public charity owner.

(2) The payment by the health insurance affiliate of
distributions or dividends to any owner does not fulfill a health
insurance affiliate's purposes as described in this paragraph if
the payment of such distributions or dividends unreasonably
interferes with the health insurance affiliate's ability to
fulfill its purposes as described in this paragraph through the
provision of direct services as described in subparagraph (1),
division (a). Payment of dividends

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