reglab/housing_qa huggingface dataset:
MA Gen L ch 175 § 75 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 75 - Mutual Fire Companies; Underwriters; Compensation

Section 75. No officer or other person whose duty it is to determine the character of the risks, and upon whose decision the application shall be accepted or rejected by a mutual fire company, shall receive as any part of his compensation a commission upon the premiums; but his compensation shall be a fixed salary, and, if the directors so determine, a share of the net profits. Nor shall such officer or person aforesaid be an employee of any officer or agent of the company.
MA Gen L ch 175 § 76 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 76 - Mutual Fire Companies; Members; Annual Meetings; Voting Rights

Section 76. Every person insured by a mutual fire company shall be a member while his policy is in force, entitled to one vote for each policy he holds, and shall be notified of the time and place of holding its meetings by a written notice or by an imprint, in type not smaller than long primer, upon the filing-back of each policy, receipt or certificate of renewal, as follows: The assured is hereby notified that by virtue of this policy he is a member of the Insurance Company, and is entitled to vote either in person or by proxy at any and all meetings of said company. The annual meetings are held at its home office on the day of in each year, at o'clock. The blanks shall be duly filled in print, and shall be a sufficient notice. Any city or town or other political subdivision of the commonwealth or any other corporation becoming a member of such a company may authorize any person to represent it in such company, and such representative shall have all the rights of any individual member. The contingent mutual liability of any city or town or other political subdivision of the commonwealth becoming a member of such a company shall not be deemed a liability within the meaning of section thirty-one of chapter forty-four. The commissioner shall, upon request of any official of a city or town or other political subdivision of the commonwealth, furnish a list of the mutual companies authorized to transact business in the commonwealth. A mutual fire insurance company may hold its annual meeting at a location other than its home office; provided, however, that such other location shall be within the Commonwealth; and, provided further, that the commissioner of insurance shall be informed in writing of such other location at least thirty days prior to the annual meeting. When the location of the annual meeting has been established, notice thereof shall be prominently posted in the company's home office within five business days prior to such meeting. Any person holding property in trust may insure the same in such company, and as such trustee assume the liabilities and be entitled to the rights of a member, but shall not be personally liable upon such contract of insurance. Members may vote by proxies dated and executed within three months, and returned and recorded on the books of the company three days or more, before the meeting at which they are to be used. No person shall, as attorney or otherwise, cast more than twenty votes, and no officer shall, himself or by another, ask for, receive, procure to be obtained or use a proxy to vote.
MA Gen L ch 175 § 77 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 77 - Mutual Fire Companies; Directors

Section 77. The number of the board of directors of every such company and requirements for eligibility, if any, shall be fixed by or determined in the manner provided in the by-laws but shall not be less than seven, and not less than five shall constitute a quorum. Such companies having a guaranty capital shall choose one half of the directors from the shareholders and one half from the policyholders who are not shareholders. Directors shall hold office for one year or for the term provided in the by-laws, and until their successors are qualified. The by-laws of such a company may divide its board of directors into one, two, three or four classes, and provide for the election thereof in such manner that one class only shall retire and their successors be chosen each year. Special meetings of the members of such a company may be called by the directors, or as the by-laws may provide, and shall be called by the secretary, or in case of the death, absence, incapacity or refusal of the secretary, by any other officer upon written application of at least one half of one per cent of the members or the owners of one fifth of the guaranty capital, upon such notice as the by-laws provide, and, in case none of the officers is able and willing to call a special meeting, the supreme judicial or superior court, upon application of at least one half of one per cent of the members or the owners of one fifth of the guaranty capital, shall have jurisdiction in equity to authorize one or more of such members or stockholders to call a meeting by giving such notice as is required by law.
MA Gen L ch 175 § 78 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 78 - Mutual Fire Companies; Laws Applicable; Records; Perjury; Inspection; Jurisdiction

Section 78. Such companies shall be subject to the first paragraph of section fifty-eight, except that a treasurer shall be chosen, to the first paragraph of section fifty-nine, and to the first and third paragraphs of section sixty. The secretary shall keep a record of the votes, which shall show whether cast in person or by proxy; a record of all other proceedings of all meetings of the directors or the members; a record of all policies issued and of all authorized assignments, transfers and cancellations thereof, and such other books and records as the president and directors may require. The records so kept shall be evidence of all elections and of the transactions to which they relate, and shall be open to the inspection of any interested person. A secretary who wilfully makes a false record shall be deemed guilty of perjury. It shall be a defense in any proceeding for neglect or refusal to exhibit for inspection such records or copies that the actual purpose and reason for the inspection sought are to secure a list of policyholders or other information for the purpose of selling said list or information or copies thereof or of using the same for a purpose other than in the interest of the applicant, as a member or policyholder, relative to the affairs of the corporation. The supreme judicial or superior court shall have jurisdiction in equity, upon application of any interested person, to order any or all of said copies or records to be exhibited in legible form to him and to such other persons as may become parties to said petition at such a place and time as may be designated in the order.
MA Gen L ch 175 § 81 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 81 - Mutual Fire Companies; Premiums; Contingent Liability

Section 81. Mutual fire companies, except as provided in the following section, shall charge and collect upon their policies a full mutual premium in cash or, except as provided in section seventy-three, in notes absolutely payable; provided, that this section shall not be construed to prohibit extension of credit to policyholders with respect to such premium. Any such company shall in its by-laws and policies fix the contingent mutual liability of its members for the payment of losses and expenses not provided for by its cash funds, which liability shall not be less than an amount equal to and in addition to the cash premium written in his policy. The total amount of the liability of the policyholder shall be plainly and legibly stated upon the filing-back of each policy. Whenever any reduction is made in the contingent liability of members, such reduction shall apply proportionally to all policies in force.
MA Gen L ch 175 § 82 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 82 - Mutual Fire Companies; Power of Certain Companies to Take Deposit Notes

Section 82. Mutual fire companies organized prior to May twenty-first, eighteen hundred and eighty-seven, and now lawfully doing business upon the plan of taking deposit notes for a percentage of the amount insured by their policies, and making a call or assessment thereon for expenses and for the payment of losses only after such losses are incurred, may continue such system of business, and such deposit notes shall constitute the entire liability of their members.
MA Gen L ch 175 § 85 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 85 - Mutual Fire Companies; Penalty for Guaranty Against Assessments; Personal Liability of Officers

Section 85. A director or other officer of a mutual fire company who officially or privately gives a guaranty to a policyholder thereof against an assessment to which he would otherwise be liable shall be punished by a fine of not more than one hundred dollars. If the directors of any such company neglect or omit for six months to lay and collect with all practicable diligence any assessment they are required to make by sections eighty-three and eighty-four, they shall be personally liable for all debts and claims then outstanding against the company, or that may accrue until such assessment is laid and put in process of collection. If the treasurer of such company unreasonably neglects to collect an assessment made by order of the directors, and to apply the same to the payment of the claims for which it was made, he shall be personally liable to the person having such claims for the amount of the assessment, and he may repay himself out of any money afterward received for the company on account of said assessment. If sufficient property of any such company cannot be found to satisfy an execution against it, and it has property belonging to the period assessed the proceeds of which can be applied to satisfy such execution, if the directors neglect to pay the same, or neglect for thirty days after the rendition of judgment to make an assessment and deliver the same to the treasurer for collection, or to apply such assessment when collected to the payment of the execution, they shall be personally liable for the amount of the execution. If the directors of any such company are liable to pay an execution against it, the creditor may recover the same by a suit in equity or by an action at law against the directors. The director who pays an execution against the company for which he is personally liable may sue in equity for contribution any of the directors for their proportion, and also the company or the individual members thereof to the extent of their several liability to assessment therefor.
MA Gen L ch 175 § 85a (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 85a - Mutual Fire Companies; Non-Assessable Policies; Issuance

Section 85A. The commissioner may authorize a mutual fire company, which has and maintains a surplus to policyholders, including any guaranty capital, of not less than the combined capital and surplus provisions required under section forty-eight to issue non-assessable policies, and the provisions of section eighty-one relating to contingent liability of policyholders shall not apply to any such non-assessable policies. Any such mutual fire company shall keep on deposit with the state treasurer the sum of two hundred thousand dollars. Such deposit may be made in the securities and subject to the limitations specified in sections sixty-three and sixty-six, or in cash or such other securities as the commissioner may approve. Any deposit under this section or section ninety-three F, when made with the state treasurer and approved by the commissioner, shall be subject to section one hundred and eighty-five. The commissioner shall allow to the credit of a company in the account of its financial condition all assets deposited with the state treasurer in accordance with the requirements of this section. This section shall not apply to any company unless such company or its predecessor or predecessors, if any, prior to merger or consolidation shall have been actively engaged in the insurance business in one or more states of the United States continuously for ten or more years. A company issuing a non-assessable policy under authority of this section may state therein, or on the filing back thereof, or in both such places, that such policy is non-assessable.
MA Gen L ch 175 § 88 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 88 - Mutual Marine Companies; Applicability of Secs. 76, 77 and 78

Section 88. Sections seventy-six, seventy-seven and seventy-eight shall apply to all domestic mutual marine companies, and each subscriber to the agreement specified in section eighty-six shall be a member of the company during the term of his subscription and entitled to one vote.
MA Gen L ch 175 § 89 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 89 - Mutual Marine Companies; Liability of President or Director

Section 89. If a subscriber to the agreement specified in section eighty-six fails to pay his subscription or any assessment thereon, and it is proved that the president or a director certified falsely under said section in regard to such subscriber, the person certifying shall be liable to the company for such amount as the subscriber fails to pay. If any such company is at any time liable for losses beyond the amount of its assets, the president and directors shall personally be liable for all losses on insurance effected while the company was in such condition.
MA Gen L ch 175 § 90 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 90 - Provisions Relating to Mutual Fire Companies Applicable to Other Mutual Companies

Section 90. Mutual companies, other than life, formed to transact or transacting business under any one or more of clauses three, four, five, six, seven, eight, nine, ten, twelve and thirteen of section forty-seven, or under clause (a), (b), (d) or (e) of section fifty-four, and the officers, directors, agents and members of such companies shall, except as provided in clause (e) of said section fifty-four and in sections ninety A, ninety B, ninety-two, ninety-three, ninety-three A, ninety-three B, ninety-three C, ninety-three D, one hundred and ten and one hundred and thirteen B, be subject to all the provisions of this chapter relating to mutual fire companies and their officers, directors, agents and members, so far as applicable; provided, that, except to the extent set forth in section ninety-three F, the provisions of section eighty-five A shall not apply thereto. A policyholder in any domestic mutual company specified in the first paragraph of section fifty-five or in any domestic mutual company incorporated on or after April sixth, nineteen hundred and eleven and prior to January first, nineteen hundred and twenty-seven under a special charter and authorized to transact the same kinds of business as the mutual companies specified as aforesaid shall not be liable to pay his proportionate part of any assessments which may be laid by such companies unless he is notified of such assessment within one year after the expiration or cancellation of his policy.
MA Gen L ch 175 § 90a (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 90a - Policies; Issuance by Mutual Fire and Marine and Automobile Companies; Conditions Precedent

Section 90A. No policy shall be issued by a mutual company formed to transact business under the third clause of section forty-seven, or under clause (b) or (c) of section forty-eight A, and having no guaranty capital or having a guaranty capital of less than the combined capital and surplus provisions required under section forty-eight, until not less than one million dollars of insurance in not less than four hundred separate risks upon property located in the commonwealth, in case of a company formed under said third clause or said clause (b), or not less than two million dollars of insurance in not less than eight hundred separate risks as aforesaid, in case of a company formed under said clause (c), has been subscribed for and entered on its books and the premiums thereon have been actually paid to it in full in cash.
MA Gen L ch 175 § 90b (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 90b - Policies; Issuance by Mutual Fidelity and Corporate Surety Companies; Guaranty Capital; Members

Section 90B. No policy shall be issued by a mutual company formed to transact business under the fourth clause of section forty-seven until it has established a fully paid up guaranty capital of not less than the combined capital and surplus provisions required under section forty-eight which shall be subject to the provisions of section seventy-nine, except as hereinafter and in section ninety-three D provided. Any such company may, subject to all the provisions of section seventy-nine relative to the increase of the guaranty capital of a domestic mutual fire company increase said guaranty capital subject to the written approval of the commissioner. While a company is transacting business under said fourth clause, the provisions of section seventy-nine relative to the retirement of guaranty capital of a mutual fire company shall not apply, nor shall the provisions of said section relative to the reduction of guaranty capital authorize the reduction of its guaranty capital below the combined capital and surplus provisions required under section forty-eight. Upon establishing any guaranty capital in an amount in excess of five hundred thousand dollars or increasing its guaranty capital to an amount in excess thereof, any mutual company formed to transact business under said fourth clause shall deposit with the state treasurer the sum of two hundred thousand dollars. Such deposit may be made in securities and in that event shall be subject to the limitations contained in sections sixty-three and sixty-six, or may be made in cash or such other securities as the commissioner may approve, and in any event shall be subject to section one hundred and eighty-five. Whenever the amount of the net surplus, computed on the basis fixed by sections ten to twelve, inclusive, of any mutual company formed to transact business under said fourth clause which has a guaranty capital of more than the combined capital and surplus provisions required under section forty-eight equals twice the amount of said guaranty capital, said guaranty capital shall be reduced to the combined capital and surplus provisions required under section forty-eight by an appropriation of such net surplus for that purpose. The principal on any bond or obligation executed by a mutual company as surety shall be deemed the member of the company under sections seventy-six, seventy-nine, eighty, eighty-one, eighty-three to eighty-five, inclusive, and ninety.
MA Gen L ch 175 § 90c (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 90c - Guaranty Fund; Creation in Lieu of Guaranty Capital by Certain Mutual Companies

Section 90C. Any mutual company empowered by subdivision (e) of section fifty-four to transact the kinds of business set forth in the fourth clause of section forty-seven, which has net cash assets, computed on the basis fixed by sections ten to twelve, inclusive, of not less than two million dollars may, in lieu of a guaranty capital as provided in section ninety B, if previously authorized by a vote of its policyholders at any meeting and with the written approval of the commissioner, segregate a portion of its net cash assets to an amount of not less than the combined capital and surplus provisions required under section forty-eight and constitute said amount a guaranty fund. Any such fund shall be maintained so long as the company transacts business under said clause fourth, shall be invested as provided by this chapter for the investment of the capital stock of domestic stock companies, and shall not be reduced or dissolved except with the written approval of the commissioner. The said fund shall be applied solely to the payment of claims under policies or contracts issued or executed under said clause fourth, but only in case the company has exhausted its assets, exclusive of uncollected premiums. No company with such a guaranty fund which ceases to transact business shall divide among its policyholders any of its assets or guaranty fund, until it shall have performed or cancelled all obligations under its policies and contracts. Any company may, subject to the provisions of this section, from time to time increase its guaranty capital subject to the written approval of the commissioner; provided, however, that no such increase shall be made unless the net cash assets of the company, computed as aforesaid, inclusive of the amount of said fund, amount to at least two million dollars at the time the increase is made.
MA Gen L ch 175 § 92 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 92 - Mutual Boiler Companies; Issuance of Policies

Section 92. No policy shall be issued by a mutual company formed to transact business under the fifth clause of section forty-seven until insurance has been applied for to the amount of one million dollars upon not less than one hundred separate risks, nor until such company has made arrangements for its protection from extraordinary losses caused by any one disaster by reinsurance as provided in section twenty.