reglab/housing_qa huggingface dataset:
MA Gen L ch 175 § 204 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 204 - Regulations Governing Replacement of Life Insurance Policies and Annuities; Promulgation

Section 204. The commissioner shall, after notice and hearing pursuant to chapter thirty A, promulgate regulations governing the replacement of life insurance policies and annuities. Such regulations shall be based upon the model regulation governing replacement of life insurance and annuities developed by the National Association of Insurance Commissioners. Such regulations shall, in addition to other provisions, require the delivery of a notice regarding replacement of a life insurance policy or annuity contract.
MA Gen L ch 175 § 205 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 205 - Policies Providing Supplemental Coverage to Medicare; Approval by Commissioner; Employers or Trade Unions Exception; Regulations

Section 205. Notwithstanding any provision of sections one hundred and eight, one hundred and ten, one hundred and ninety A, one hundred and ninety B and one hundred and ninety C of chapter one hundred and seventy-five to the contrary, no policy which provides supplemental coverage to medicare shall be delivered, issued for delivery or renewed unless the commissioner shall have approved the policy or certificate in writing nor unless the policy or certificate complies with standards promulgated by the commissioner for such policies and certificates provided, however, that nothing in this section shall be construed to apply to, affect or prohibit the issue of any general or blanket policy of insurance which provides supplemental coverage to medicare delivered, issued for delivery or renewed to: one or more employers or trade unions, the trustees of a fund established by one or more employers or trade unions, or a combination thereof, covering employees, former employees, or a combination thereof, or covering members or former members of the trade unions, or a combination thereof.  The commissioner shall promulgate regulations to implement this section.
MA Gen L ch 175 § 208 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 208 - Merger of Insurance Holding Company System Into Domestic Insurance Subsidiary

Section 208. Any member of an insurance holding company system, as such is described in sections two hundred and six to two hundred and six D, inclusive, may, at any time that its assets are at least eighty percent committed to or used in the insurance business of its domestic insurance subsidiary, company or companies, be merged into any one of its domestic insurance subsidiaries. In any such merger, the resulting corporation shall be the domestic insurance company. Any such merger shall be subject to sections nineteen A and nineteen C as if both of such companies were insurance companies.
MA Gen L ch 175 § 209 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 209 - Commissioner's Issuance of Licenses to Banks or Credit Unions to Act as Insurance Producers

Section 209. The commissioner may issue a license pursuant to section 162M and section 162N to a bank or credit union chartered by the commonwealth pursuant to chapter 168, 170, 171 or 172, and to a bank or credit union chartered by the United States, to act as an insurance producer pursuant to this chapter and in accordance with the provisions of section 2A of chapter 167F and section 75B of chapter 171, respectively, for the solicitation and sale of insurance products as the company, for which such bank or credit union acts as producer, is authorized to issue in the commonwealth.
MA Gen L ch 175 § 210 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 210 - Procedure for Resolution of Consumer Complaints Relative to Banks or Credit Unions Acting as Insurance Agents

Section 210. The commissioner, in conjunction with the commissioner of banks, shall establish a procedure for the prompt resolution of consumer complaints relative to the activities of a bank or credit union as a licensed insurance agent or broker.
MA Gen L ch 175 § 211 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 211 - Information Relating to Insurance Activities of Banks or Credit Unions Furnished to Federal Agencies

Section 211. The commissioner may, in his discretion, furnish to the commissioner of banks and to federal bank regulatory agencies information relating to the insurance activities of any bank or federal bank, as those terms are defined in section 1 of chapter 167, and to federal credit union regulatory agencies information relating to the insurance activities of any credit union or federal credit union, as those terms are defined in section 1 of chapter 171, which are licensed pursuant to section 209.
MA Gen L ch 175 § 214 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 214 - Suspension, Revocation or Refusal of Renewal of Life Settlement Provider or Life Settlement Broker License

Section 214. (a) The commissioner may suspend, revoke or refuse to renew the license of a licensee if the commissioner finds that:  (1) there was a material misrepresentation in the application for the license;  (2) the licensee or any officer, partner, member or director has been convicted or determined by a regulator to have committed a fraudulent or dishonest practice, is subject to a final administrative action or is otherwise shown to be untrustworthy or incompetent to act as a licensee;  (3) if a life settlement provider, the licensee demonstrates a pattern of unreasonably withholding payments to policy owners;  (4) the licensee no longer meets the requirements for initial licensure;  (5) the licensee or any officer, partner, member or director has been convicted of a felony or a misdemeanor of which criminal fraud is an element, or the licensee has pleaded guilty or had the case continued without a finding with respect to a felony or a misdemeanor of which criminal fraud or moral turpitude is an element, regardless of whether a judgment of conviction has been entered by the court;  (6) the life settlement provider has entered into a life settlement contract using a form that has not been approved under sections 213 to 223E, inclusive;  (7) the life settlement provider has failed to honor contractual obligations set out in a life settlement contract;  (8) the life settlement provider has assigned, transferred or pledged a settled policy to a person other than a life settlement provider licensed under this chapter, a purchaser, an accredited investor or qualified institutional buyer as defined respectively in Regulation D of Rule 501 of the federal Securities Act of 1933, 17 C.F.R. section 230.501, as amended, or rule 144A of the federal Securities Act of 1933, 17 C.F.R. section 230.144A, as amended, a financing entity, a special purpose entity or a related provider trust; or  (9) the licensee or any officer, partner, member or key management personnel has violated sections 213 to 223E, inclusive.  (b) Before the commissioner denies a license application or suspends, revokes or refuses to renew the license of a licensee under sections 213 to 223E, inclusive, the commissioner shall conduct a hearing in accordance with chapter 30A.
MA Gen L ch 175 § 215 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 215 - Approval of Life Settlement Contract Form and Disclosure Statement Form

Section 215. (a) No person shall use any form of life settlement contract or provide to an owner a disclosure statement form unless it has been filed with and approved by the commissioner. The commissioner shall disapprove a life settlement contract form or disclosure statement form if, in the commissioner's opinion, the contract fails to meet the requirements of sections 219, 220, 222 and subsection (b) of section 223B or are unreasonable, contrary to the interests of the public or are otherwise misleading or unfair to the owner.  (b) No insurer shall, as a condition of responding to a request for verification of coverage or in connection with the transfer of a policy under a life settlement contract, require that the owner, insured, life settlement provider or life settlement broker sign any form, disclosure, consent, waiver or acknowledgment that has not been expressly approved by the commissioner for use in connection with a life settlement contract.
MA Gen L ch 175 § 216 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 216 - Annual Statement of Life Settlement Provider

Section 216. (a) A life settlement provider shall file with the commissioner, annually on or before March 1, a statement containing such information as the commissioner may prescribe by regulation. In addition to any other requirements, the annual statement shall: (i) specify the total number, aggregate face amount and life settlement proceeds of policies settled during the immediately preceding calendar year, together with a breakdown of the information by policy issue year for each carrier; (ii) include the names of the insurance companies whose policies have been settled; and (iii) include only those transactions where the owner is a resident of the commonwealth; provided, however, that an annual statement shall not include individual transaction data regarding the business of life settlements or information that there is a reasonable basis to believe could be used to identify the owner or the insured.  (b) A life settlement provider that willfully fails to file an annual statement or willfully fails to reply within 30 days after receipt of a written inquiry by the commissioner in connection therewith shall, in addition to any other penalties prescribed by law, be subject, upon due notice and opportunity to be heard, to a penalty of up to $250 per day of delay, not to exceed $25,000 in the aggregate, for each such failure.
MA Gen L ch 175 § 217 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 217 - Disclosure by Life Settlement Provider, Broker, Insurance Company, etc., of Individual Identification Data of Insured

Section 217. (a) Except as otherwise authorized or required by law, a life settlement provider, life settlement broker, insurance company, life insurance producer, information bureau, rating agency or company or any other person with actual knowledge of an insured's identity shall not disclose the individual identification data of an insured or information that there is a reasonable basis to believe could be used to identify the insured or the insured's financial or medical information to any other person unless the disclosure is:  (1) necessary to effect a life settlement contract between the owner and a life settlement provider and the owner and insured have provided prior written consent to the disclosure;  (2) necessary to effectuate the sale of a life settlement contract, or interests therein, as investments; provided, however, that the sale shall be conducted in accordance with applicable state and federal securities laws; and provided further, that the owner and the insured shall have both provided prior written consent to the disclosure;  (3) provided in response to an investigation or examination by the commissioner or any other governmental officer or agency;  (4) a term or condition to the transfer of a policy by 1 life settlement provider to another life settlement provider;  (5) necessary to allow the life settlement provider or life settlement broker or an authorized representative to make contacts for the purpose of determining health status; provided, however, that for the purposes of this section, the term ''authorized representative'' shall not include a person who has or may have a financial interest in the life settlement contract other than a licensed life settlement provider, licensed life settlement broker, financing entity, related provider trust or special purpose entity; and provided further, that a life settlement provider or life settlement broker shall require its authorized representative to agree in writing to adhere to the privacy provisions of this section; or  (6) required to purchase stop loss coverage.  (b) Private information solicited or obtained in connection with a proposed or actual life settlement contract shall be subject to the provisions applicable to financial institutions under the Gramm Leach Bliley Act, P.L. 106–102 (1999), and all other state and federal laws relating to the confidentiality of nonpublic personal information.
MA Gen L ch 175 § 219 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 219 - Advertising by Life Settlement Broker or Provider

Section 219. (a) A licensed life settlement broker or life settlement provider may conduct or participate in advertisements. The advertisements shall comply with all advertising laws or rules and regulations promulgated by the commissioner that are applicable to insurers, life insurance producers, brokers and providers.  (b) Advertisements shall be accurate, truthful and not misleading in fact or by implication.  (c) No person in the business of insurance or the business of life settlements shall:  (1) directly or indirectly market, advertise or solicit the purchase of a new policy for the purpose of or with a significant emphasis on settling the policy;  (2) use the words ''free'' or ''no cost'' or words of similar import in marketing, advertising, soliciting or otherwise promoting the purchase of a policy; or  (3) with respect to a life settlement provider, enter into a life settlement contract unless the related advertisements, as may be prescribed by regulation, have been filed with the commissioner.  (d) Prior to publication, the commissioner may require the submission of advertising material.  (e) The commissioner shall require delivery of a buyer's guide or a similar consumer advisory package in the form prescribed by the commissioner to owners during the solicitation process.
MA Gen L ch 175 § 221 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 221 - Use of Policy as Collateral in Premium Finance Loan

Section 221. (a) Insurance carriers may inquire in the application for insurance whether the proposed owner intends to pay premiums with the assistance of financing from a lender that will use the policy as collateral to support the financing.  (b) If the premium finance loan provides funds which can be used for a purpose other than paying for the premiums, costs and expenses associated with obtaining and maintaining the life insurance policy and loan, the application shall be rejected as a violation of this chapter.  (c) The insurance carrier may disclose certain information to the applicant and the insured, either on the application or an amendment to the application to be completed not later than the delivery of the policy including, but not limited to, the following disclosure: ''If you have entered into a loan arrangement where the policy is used as collateral and the policy changes ownership at some point in the future in satisfaction of the loan, the following may be true:  (1) a change of ownership could lead to a stranger owning an interest in the insured's life;  (2) a change of ownership could, in the future, limit your ability to purchase future insurance on the insured's life because there is a limit on the amount of coverage insurers will issue on 1 life;  (3) should there be a change of ownership and you wish to obtain more insurance coverage on the insured's life in the future, the insured's higher issue age, a change in health status and other factors may reduce the ability to obtain coverage or may result in significantly higher premiums;  (4) you should consult a professional tax advisor, since a change in ownership in satisfaction of the loan may result in tax consequences to the owner, depending on the structure of the loan.''  (d) The insurance carrier may require certifications from the applicant or the insured, including the following certified statements:  ''(1) I have not entered into any agreement or arrangement providing for the future sale of this life insurance policy;  (2) My loan arrangement for this policy provides funds sufficient to pay for some or all of the premiums, costs and expenses associated with obtaining and maintaining my life insurance policy; however, I have not entered into any agreement by which I am to receive consideration in exchange for procuring this policy; and  (3) The borrower has an insurable interest in the insured.''
MA Gen L ch 175 § 223 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 223 - Conflict of Laws

Section 223. (a) If there is more than 1 owner on a single policy and the owners are residents of different states, the life settlement contract shall be governed by the law of the state in which the owner having the largest percentage of ownership resides or, if the owners hold equal ownership, the state of residence of 1 owner agreed upon in writing by all of the owners. The law of the state of the insured shall govern in the event that equal owners fail to agree in writing upon a state of residence for jurisdictional purposes.  (b) A life settlement provider from the commonwealth who enters into a life settlement contract with an owner who is a resident of another state that has enacted laws or adopted regulations governing life settlement contracts shall be governed in the effectuation of that life settlement contract by the laws and regulations of the owner's state of residence. If the state in which the owner is a resident has not enacted laws or regulations governing life settlement contracts, the life settlement provider shall give the owner notice that neither state regulates the transaction upon which the owner is entering. For transactions in those states, however, the life settlement provider shall maintain all records required if the transactions were executed in the owner's state of residence. The forms used in those states shall not require the approval of the commissioner.  (c) If there is a conflict in the laws that apply to an owner and a purchaser in an individual transaction, the laws of the state that apply to the owner shall take precedence and the provider shall comply with those laws.
MA Gen L ch 175 § 223c (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 223c - Remedies for Violations of Secs. 213 to 223e

Section 223C. (a) If a person violates any provisions of sections 213 to 223E, inclusive, or any rule or regulation promulgated thereunder, the commissioner may seek an injunction in a court of competent jurisdiction in the county wherein the person resides or has a principal place of business and may apply for temporary and permanent orders that the commissioner determines necessary to restrain the person from further committing the violation.  (b) A person damaged by the acts of another person in violation of any provisions of sections 213 to 223E, inclusive, or any rule or regulation promulgated thereunder may bring a civil action for damages against the person committing the violation in a court of competent jurisdiction.  (c) The commissioner may issue a cease and desist order, in accordance with chapter 30A, upon a person who violates any provision of sections 213 to 223E, inclusive, any regulation, rule or order adopted by the commissioner or any written agreement entered into with the commissioner.  (d) When the commissioner finds that an action presents an immediate danger to the public and requires immediate action, the commissioner may issue an emergency cease and desist order reciting with particularity the facts underlying such findings. The emergency cease and desist order shall be effective immediately upon service of a copy of the order on the respondent and shall remain effective for 90 days. If the commissioner begins nonemergency cease and desist proceedings under subsection (c), the emergency cease and desist order shall remain effective, absent an order by an appellate court pursuant to chapter 30A. In the event of a willful violation of this act, the trial court may award statutory damages in addition to actual damages in an amount up to 3 times the actual damage award.  (e) Sections 213 to 223E, inclusive, shall not be waived by any agreement. Except for a valid agreement under subsection (a) of section 223, a choice of law provision shall not be utilized to prevent the application of said sections 213 to 223E, inclusive, to a life settlement contract in which a party to the life settlement contract is a resident of the commonwealth.
MA Gen L ch 175 § 223d (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 223d - Penalties

Section 223D. (a) If a person is found guilty of committing a fraudulent life settlement act, that person shall also be guilty of committing insurance fraud and shall be subject to additional penalties.  (b) The commissioner may levy a civil penalty, not to exceed $10,000 for each violation, upon any person, including those persons and their employees licensed pursuant to sections 213 to 223E, inclusive, who is found to have committed a fraudulent life settlement act or violated any other provision of sections 213 to 223E, inclusive.  (c) The license of a person licensed under sections 213 to 223E, inclusive, that has committed a fraudulent life settlement act shall be revoked for at least 1 year.
MA Gen L ch 175 § 223e (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 223e - Violation of Secs. 213 to 223e Deemed Unfair Trade Practice

Section 223E. A violation of sections 213 to 223E, inclusive, shall be an unfair trade practice under sections 3 and 4 of chapter 176D and shall be subject to the penalties set forth in section 7 of said chapter 176D.
MA Gen L ch 175 § 223f (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 223f - Authority of Commissioner to Promulgate Regulations

Section 223F. The commissioner may promulgate regulations to implement sections 212 to 223E, inclusive.