LD 933
pg. 3
Page 2 of 38 PUBLIC Law Chapter 346 Page 4 of 38
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LR 2060
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certificate of authority in the state in which the
person resides;

 
(iii) (c) The state in which the person resides
has an association similar to the Maine Life and
Health Insurance Guaranty Association; and

 
(iv) (d) The person is not eligible for coverage
by the association in that state.; and

 
C. To any person who is a payee under a structured
settlement annuity, or to a beneficiary or beneficiaries of
a payee if the payee is deceased, if the payee:

 
(1)__Is a resident, regardless of where the contract
owner resides; or

 
(2)__Is not a resident, if all of the conditions of
either division (a) or (b) are met:

 
(a)__The contract owner of the structured
settlement annuity is a resident; or

 
(b)__The contract owner of the structured
settlement annuity is not a resident, but:

 
(i)__The insurer that issued the structured
settlement annuity is domiciled in this
State;

 
(ii)__The state in which the contract owner
resides has an association similar to the
association created by this chapter; and

 
(iii)__The payee or beneficiary and the
contract owner are not__eligible for coverage
by the association of the state in which the
payee or contract owner resides.

 
This chapter does not provide coverage to a person who is a
payee or beneficiary of a contract owner who is a resident
of this State if the payee or beneficiary is afforded any
coverage by a similar association of another state.

 
This chapter is intended to provide coverage to a person who is a
resident, and, in special circumstances as provided by this
section, to a person who is not a resident.__In order to avoid
duplicate coverage, if a person who would otherwise receive
coverage under this chapter is provided coverage under the laws
of any other state, that person may not be provided coverage
under this chapter.__In determining the application of the


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