reglab/housing_qa huggingface dataset:
MA Gen L ch 175 § 16 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 16 - Record of Proceedings; Certified Copies

Section 16. He shall preserve in a permanent form a record of his proceedings, including a concise statement of the result of official examinations of companies. He shall furnish, upon payment of the fee prescribed by section fourteen, when required for evidence in court, certificates, under seal of the division of insurance, relative to the authority of an insurance agent, broker or company, or an adjuster of fire losses, or an insurance adviser, or a fraternal benefit society, to transact business in the commonwealth on any particular date or for any specified period, and such certificates shall be received by the courts in lieu of the testimony of the commissioner or his representative.
MA Gen L ch 175 § 17 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 17 - Annual Report to the General Court

Section 17. He shall annually, and as early as is consistent with full and accurate preparation, make a report to the general court of his official transactions, and shall include therein a report of the condition of the receiverships of insolvent companies; an exhibit of the financial condition and business transactions of the several companies as disclosed by official examinations of the same or by their annual statements, abstracts of which statements, with his valuation of life policies, shall appear therein; and such other information and comments relative to insurance and the public interest therein as he thinks proper. The annual report of the commissioner on fire, marine and casualty insurance matters shall contain the laws enacted on those subjects in the year of the report, and his annual report on life and related insurance matters shall contain the laws enacted on those subjects in the year of the report.
MA Gen L ch 175 § 18 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 18 - Conduct of Business in Corporate Name; Publication of Assets and Liabilities

Section 18. Every company shall conduct its business in the commonwealth in its corporate name and all policies and contracts, other than contracts of corporate suretyship, issued by it shall, except as provided in sections one hundred and two A, one hundred and two C, one hundred and ten C, one hundred and eleven A, one hundred and seventeen A and one hundred and seventeen B of this chapter and in section fifty-six of chapter one hundred and fifty-two, and except as otherwise provided herein, be headed or entitled only by such name. Two or more insurers under a common management who represent themselves to be or are customarily known as an insurance company group or similar insurance trade designation may, with the approval of the commissioner, head or entitle policies or contracts with the name of the group or similar trade designation or with the names of the individual members of the group; provided, that the company assuming the insurance is specifically identified. When any such company publishes its assets it shall in the same connection and with equal conspicuousness publish its liabilities, both computed on the basis allowed for its annual statements, and any publication purporting to show its capital shall exhibit only the amount of such capital as has been actually paid in cash. Such publications shall be held to include all policies, renewals, signs, circulars, cards or other means by which public announcements are made. A company or an officer or agent thereof who issues or circulates advertisements in violation of this section shall be punished by a fine of not less than fifty nor more than five hundred dollars.
MA Gen L ch 175 § 19c (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19c - Merger or Consolidation; Rights of Minority Stockholders

Section 19C. If any stockholder of a domestic company merging or consolidating under the authority of section nineteen A or nineteen B objects to the proposed merger or consolidation in the manner provided in section eighty-six of chapter one hundred and fifty-six B, sections eighty-six through ninety-eight of chapter one hundred and fifty-six B shall be applicable.
MA Gen L ch 175 § 19f (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19f - Reorganization as Domestic Stock Insurer Owned by Mutual Holding Company

Section 19F. Upon compliance with the requirements and completion of the proceedings prescribed by sections 19G to 19W, inclusive, a domestic mutual insurance company may be reorganized as a domestic stock insurer owned, directly or indirectly, by a mutual holding company.
MA Gen L ch 175 § 19i (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19i - Receipt of Fee, Commission or Valuable Consideration for Aiding, Promoting or Assisting in Reorganization

Section 19I. No director, officer, agent or employee of the reorganizing insurer, or any other person, shall receive any fee, commission or other valuable consideration whatsoever, other than his usual regular salary and compensation, for in any manner aiding, promoting or assisting in such reorganization, except as set forth in the plan of reorganization approved by the commissioner. This provision shall not be deemed to prohibit the payment of reasonable fees and compensation to attorneys at law, accountants and actuaries for services performed in the independent practice of their professions, even though they may be directors of the insurer.
MA Gen L ch 175 § 19j (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19j - Withdrawal or Amendment of Plan of Reorganization

Section 19J. At any time before the plan of reorganization becomes effective as provided in subsections (a) to (n), inclusive, of section 19K, the mutual insurer may, by vote of a three-fourths majority of the board of directors, withdraw or amend the plan of reorganization. Any such plan amendment shall require the written consent of the commissioner. For a plan amendment, all references in sections 19F to 19W, inclusive, to the plan of reorganization shall be deemed to refer to the plan as amended, but no amendment shall be deemed to change the adoption date of the plan of reorganization. No amendment may change the plan of reorganization in a manner that the commissioner determines is prejudicial to the policyholders of the reorganizing insurer, unless a further hearing is held on the plan as amended, if the amendment is made after the initial public hearing, or unless the plan as amended is submitted for reconsideration by the members, if the amendment is made after the plan has been approved by the members.
MA Gen L ch 175 § 19m (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19m - Amendment of Amended Articles of Organization or Plan of Reorganization Upon Effective Date; Vote

Section 19M. (a) The amended articles of organization of a reorganized insurer that have been adopted pursuant to a plan of reorganization and filed with the state secretary in accordance with subsections (a) to (n), inclusive, of section 19K may be further amended after the effective date pursuant to section 50. (b) The plan of reorganization may be amended in other respects after the effective date of such plan as specified in this section. Such an amendment shall take effect upon filing with the state secretary after compliance with the following: (i) approval by a vote of a majority of the board of directors of the reorganized insurer; (ii) submission to the commissioner for consent in writing, subject to the provisions of subsection (a) of section 19H; (iii) approval by a majority of those who vote at a meeting of members of the mutual holding company eligible to vote thereon called for the purpose of considering the amendment to the plan. Members eligible to vote thereon shall be members of the mutual holding company who were members of the former mutual insurer and were entitled to vote on the original plan of reorganization; and (iv) filed with the commissioner after having been consented to and approved as contemplated by clauses (ii) and (iii). (c) If an amendment proposed under subsection (b) would adversely affect the rights of one or more classes of members, but not all such members, then only the members of each class whose rights would be adversely affected by the proposed amendment are entitled to vote on the proposed plan amendment. (d) A member meeting prescribed by clause (iii) of subsection (b) shall be called by the board of directors, the chairperson of the board, or the president of the reorganized company. Voting shall be in person, by proxy or by mail at a meeting of members called for that purpose pursuant to the mutual holding company's articles of organization and by-laws. (e) At any time before the plan amendment becomes effective, the reorganized company may, by vote of a majority of the board of directors, amend the plan amendment or withdraw its plan amendment. For an amendment to a plan amendment, all references in sections 19F to 19W, inclusive, to the plan amendment shall be deemed to refer to the plan amendment as amended. Any amendment of the plan amendment shall require the written consent of the commissioner. No amendment shall be deemed to change the date of adoption of the plan amendment. No amendment made after approval by the members as provided in clause (iii) of subsection (b) may change the plan amendment in a manner that the commissioner determines is prejudicial to any of the affected members unless the plan amendment as amended is submitted for reconsideration under the procedures prescribed in this section for the original plan amendment.
MA Gen L ch 175 § 19n (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19n - Continued Use of Word ''mutual'' in Name of Reorganized Insurer

Section 19N. If the name of a mutual insurer reorganizing to a stock insurer pursuant to sections 19F to 19W, inclusive, includes the word mutual, the new stock insurer may continue to use the word mutual in its name unless the commissioner finds that the continued use of the word mutual in its name is likely to mislead or deceive the public.
MA Gen L ch 175 § 19o (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19o - Transfer of Assets and Liabilities of Reorganized Insurer

Section 19O. In addition to any dividend in compliance with section 72, a reorganized insurer may, either pursuant to the plan of reorganization or upon the prior approval of the commissioner, on any one or more occasions on or after the effective date, transfer assets or liabilities, including any one or more of its subsidiaries, to the mutual holding company or to one or more persons owned or controlled by the mutual holding company; provided, however, that in any such transfer, in either a single instance or in the aggregate, the liabilities so transferred may not be greater than the assets so transferred. The commissioner shall approve such a proposed transfer unless the commissioner finds that the transfer would materially adversely affect the ability of the reorganized insurer to meet its obligations under its policies. If such a transfer is to be made upon the prior approval of the commissioner rather than under a plan of reorganization, the other provisions of sections 19F to 19W, inclusive, including, without limitation, the requirement of filing a plan of reorganization, shall not apply. The provisions of section 206C shall not apply to any transfer effected pursuant to this section.
MA Gen L ch 175 § 19p (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19p - First Offer of Voting Stock After Effective Date of Plan of Reorganization; Application

Section 19P. (a) The offering of voting stock by the reorganized insurer or intermediate stock holding company to any person other than the mutual holding company or a wholly owned subsidiary thereof, which offering is the first to occur after the effective date of the plan of reorganization, shall be made only in accordance with such provisions as the plan of reorganization may contain governing such a first offering, or with the prior approval of the commissioner after submission of an application by the proposed issuer. The commissioner shall approve any such application unless he finds, in the case of a public offering, that the offering would not be conducted in a manner generally consistent with customary practices for initial public offerings, to the extent reasonably comparable, or, in the case of any other offering, that the offering would be prejudicial to the members of the mutual holding company. None of the foregoing shall be deemed to prohibit the filing of a registration statement with the Securities and Exchange Commission and the state secretary prior to such approval. For the purposes of determining whether an application meets the requirements of this section, the commissioner may employ staff personnel and outside consultants. All reasonable costs related to the review of such an application, including those costs attributable to the use of staff personnel, shall be borne by the issuer submitting the application. For purposes of this section, any securities of the reorganized insurer or any intermediate stock holding company that are convertible into voting stock shall be considered voting stock. [There is no subsection (b).]
MA Gen L ch 175 § 19t (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19t - Domestic Mutual Insurance Company Reorganizing With Existing Domestic or Foreign Mutual Holding Company; Terms and Conditions

Section 19T. (a) By complying with the provisions of sections 19F to 19W, inclusive, a domestic mutual insurance company may reorganize with an existing domestic or foreign mutual holding company, in which case the plan of reorganization of the domestic mutual insurer shall provide that the domestic mutual insurer will become a domestic stock insurer, that the members of the domestic mutual insurer will become members of the mutual holding company, that the owners of policies issued by the domestic mutual insurer and in force on the effective date shall as of the effective date have equity rights in the mutual holding company, and that the mutual holding company will acquire, directly or through one or more intermediate stock holding companies, at least 51 per cent of the voting stock of the reorganized insurer. (b) An existing domestic mutual holding company may, with the approval of the commissioner: (i) acquire direct or indirect ownership of a converting foreign mutual insurer that becomes a stock insurer in compliance with the law of its state of domicile; (ii) grant membership interests and equity rights to the members or policyholders of a foreign mutual insurer that merges with a direct or indirect domestic or foreign subsidiary of the domestic mutual holding company and such a subsidiary, if it is a domestic insurer, may merge with such a foreign mutual insurer pursuant to section 19A or 19B notwithstanding the provisions in said sections to the effect that they do not authorize mergers between mutual insurers and stock insurers. The commissioner may consider the fairness of the terms and conditions of the transaction, whether the interests of the members of each domestic mutual holding company that is a party to the transaction are protected, and whether the proposed transaction is in the public interest.
MA Gen L ch 175 § 19v (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19v - Transactions Entered Into by Mutual Insurers for Purpose of Avoiding Total Gross Investment Income Earned Excise

Section 19V. Any transaction entered into by a mutual insurer, either during or after the reorganization process authorized by sections 19F to 19W, inclusive, a principal purpose of which is to avoid the total gross investment income earned excise imposed by section 22A of chapter 63 or the investment privilege excise imposed by section 22B of said chapter 63 shall be disregarded by the department of revenue for purposes of computing said excise for the reorganized insurer. The department of revenue, in consultation with the division of insurance, shall promulgate rules and regulations necessary to implement the provisions of this section, and may consult with representatives of the insurance industry and practitioners.
MA Gen L ch 175 § 19w (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19w - Promulgation of Regulations

Section 19W. The commissioner shall promulgate regulations necessary to implement the provisions of sections 19F to 19U, inclusive.
MA Gen L ch 175 § 19x (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 19x - Disclosure by Mutual Companies of Compensation Paid to Executive Officers and Directors

Section 19X. (a) A mutual company, as defined in section 19G, shall provide clear, concise and understandable disclosure of all compensation awarded to, earned by or paid to the named executive officers or directors designated in subsection (b). A mutual company shall conspicuously publish such disclosure in a format readily accessible to members. (b) For the purposes of this section, a ''named executive officer or director'' shall mean: (i) a person serving as a company's principal or chief executive officer or acting in a similar capacity during the last completed fiscal year regardless of compensation level; (ii) a person serving as a company's principal or chief financial officer or acting in a similar capacity during the last completed fiscal year regardless of compensation level; (iii) a company's 3 most highly compensated executive officers, other than the chief executive officer and chief financial officer, who were serving as executive officers at the end of the last completed fiscal year; (iv) up to 2 additional persons for whom disclosure would have been provided under clause (iii) but for the fact that the individual did not serve as an executive officer of the company at the end of the last completed fiscal year; and (v) a company's directors.
MA Gen L ch 175 § 20 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 20 - Reinsurance

Section 20. (a) A domestic company, except as herein provided, may reinsure in any other company any part or all of any risks assumed by it, and shall file with the annual statement required by section 25 and at such other times as the commissioner may require, schedules of all reinsurance. A contract of reinsurance, other than life, made by a domestic company or by a company incorporated in a foreign country and having its principal office in the commonwealth, ceding more than 75 per cent of its total outstanding risks, shall be subject to the written approval of the commissioner. A reinsurance contract made by a domestic life company shall not cede more than 90 per cent of the risks covered by the reinsurance contract without the permission of the commissioner. (b) When reinsurance is so effected the ceding company, other than a life company, shall thereafter be charged on the gross premium basis with an unearned premium liability, and a life company shall be charged thereafter with a reserve liability, both the unearned premium and reserve liability representing the proportion of the obligation retained by it. Reinsurance credits shall be established in accordance with section 20A. (c) A company ceding reinsurance to a mutual company shall not, unless the contract of reinsurance so provides, become thereby a member of the company accepting the reinsurance or be entitled to any dividend or expiration return of premium or be subject to liability to assessment. (d) A company and any officer or agent thereof effecting or acting in the negotiation of reinsurance in violation of this section shall severally be punished by a fine of $5,000.
MA Gen L ch 175 § 21 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 21 - Limitation of Amount Insured in Single Risk; Penalty

Section 21. No company other than a life company shall insure in a single risk an amount larger than ten percent of its surplus to policyholders, unless it has reinsured, as provided in section twenty, the excess over said limit to take effect simultaneously with the original contract. A company violating this section shall be punished by a fine of five thousand dollars for each day during which such violation continues.
MA Gen L ch 175 § 22 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 175 - Insurance|Section 22 - Unauthorized Policy Provisions; Effect

Section 22. No company and no officer or agent thereof shall make, issue or deliver any policy of insurance or any annuity or pure endowment contract containing any condition, stipulation or agreement depriving the courts of the commonwealth of jurisdiction of actions against it; limiting the time for commencing actions against it to a period of less than two years from the time when the cause of action accrues; making any person appointed and licensed as its agent the agent of the applicant or insured or holder of the policy or contract for any purpose; providing that no person shall be deemed an agent of the company unless authorized by the company in writing, or providing that any such policy or contract made in the commonwealth on lives, property or interests therein shall be governed by the laws of any state or country other than this commonwealth. Any such condition, stipulation or agreement shall be void. No policy of insurance issued by a company under the authority of section twenty-four, one hundred and eight and one hundred and ten, and no contract or agreement entered into by the trustee of any trust fund authorized by chapter one hundred and fifty-one D, shall contain a provision excluding liability on the part of the insurance company or health and welfare fund for hospital, medical or surgical expenses if the insured is hospitalized or receives medical or surgical treatment in a soldiers' home established by the commonwealth. Any such provision shall be void. Expenses as used in this paragraph shall mean the charges of such soldiers' homes for the services rendered and such charges shall be deemed to have been legally incurred by persons insured under such policies notwithstanding that such person is entitled to benefits under chapter one hundred fifteen A or that no bill is, or would otherwise be, rendered by such soldiers' homes with respect to such persons. The foregoing provisions shall apply to any group or non-group policy of insurance delivered, issued or renewed, by any domestic insurer under the authority of this chapter, or by any alien or foreign insurer to the extent such policies cover persons having a residence within the commonwealth, or to any employee health plan of any company or other business entity where the company or business entity is a self-insurer of such employee health plan.