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PUBLIC LAWS OF MAINE
First Regular Session of the 121st

CHAPTER 374
S.P. 559 - L.D. 1605

An Act To Amend the Law Relating to Multiple-employer Welfare Arrangements

     Emergency preamble. Whereas, Acts of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and

     Whereas, the Legislature authorizes employers to secure health insurance through multiple-employer welfare arrangements; and

     Whereas, there are few options available to employers to secure health insurance for their employees; and

     Whereas, multiple-employer welfare arrangements provide health insurance to thousands of Maine residents, and that health insurance should not be disrupted; and

     Whereas, technical changes are required to the multiple-employer welfare arrangement laws to ensure the continued availability of health insurance through the multiple-employer welfare arrangement to Maine employers and employees; and

     Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,

Be it enacted by the People of the State of Maine as follows:

     Sec. 1. 24-A MRSA §6603, sub-§1, ¶C, as enacted by PL 1993, c. 688, §1, is amended to read:

     Sec. 2. 24-A MRSA §6603, sub-§5, as enacted by PL 1993, c. 688, §1, is amended to read:

     5. Funds held in trust. All funds of a multiple-employer welfare arrangement must be held in trust in this State in the name of the arrangement in a qualified financial institution by state or federally chartered financial institutions until such time as they are disbursed.

     Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.

Effective May 30, 2003.

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