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2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 133a - Requirements for Other Group Life Insurance Policies

Section 133A. Group life insurance offered to a resident of the commonwealth under a group life insurance policy issued to a group other than one described in section 133 shall be subject to the following requirements:-
(a) A group life insurance policy shall not be delivered in the commonwealth unless the commissioner finds that:
(1) the issuance of the group policy is not contrary to the best interests of the public;
(2) the issuance of the group policy would result in economies of acquisition or administration; and
(3) the benefits are reasonable in relation to the premiums charged.
(b) The premium for the policy shall be paid either from the policyholder's funds or from funds contributed by the covered persons, or from both.
(c) An insurer may exclude or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 134a - Conversion From Group Life Insurance Policy to Another Type of Life Policy; Right of Certificate-Holder; Notice

Section 134A. If any individual insured under a group life insurance policy hereafter issued becomes entitled under the terms of such policy to convert to another type of life insurance within a specified time after the happening of an event, such certificate-holder shall be notified of such privilege and its duration within fifteen days after the happening of the event; provided, that if such notice be given more than fifteen days, but less than ninety days after the happening of such event, the time allowed for the exercise of such privilege of conversion shall be extended for fifteen days after the giving of such notice. If such notice be not given within ninety days after the happening of the event, the time allowed for the exercise of such conversion privilege shall expire at the end of such ninety days. Written notice by the employer given to the certificate-holder or mailed to the certificate-holder at his last known address, or written notice by the insurer mailed to the certificate-holder at the last address furnished to the insurer by the employer, shall be deemed full compliance with the provisions of this subdivision for the giving of notice.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 134c - Group Life Policies; Assignment of Incidents of Ownership

Section 134C. Subject to the terms of the policy relating to assignment of incidents of ownership thereunder, a person whose life is insured under a policy of group life insurance may assign any or all incidents of ownership granted him under such policy or under any provision of this chapter, including but not limited to any right to designate a beneficiary, to have an individual policy issued to him and to pay premiums.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 135 - Group Life Policies; Exemption From Attachment; Exception

Section 135. No such policy, or the proceeds thereof when paid to any employee or employees thereunder, or to their beneficiaries, shall be liable to attachment, trustee process or other process, or to be seized, taken, appropriated or applied by any legal or equitable process or operation of law to pay any debt or liabilities of such employee or his beneficiary or any other person having right thereunder either before or after payment; nor shall the proceeds thereof, when not made payable to any beneficiary, constitute a part of the estate of the employee for the payment of his debts.
Nothing in this section shall prevent an employee's benefits from being attached, seized, taken, appropriated, assigned, or applied by any legal or equitable process or operation of law to satisfy a support order under chapter two hundred and eight, two hundred and nine, or two hundred and seventy-three.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 136 - Group Life Policies; Exemption From Loan Provision

Section 136. Such policies shall be exempt from any loan provision or requirement. Any equity of the insured in a group life insurance policy at the time of default in the payment of a premium, whether that equity exists by reason of the terms of the policy or by law, shall be applied to purchase extended or paid-up insurance for each of the insured at attained age on the basis of the mortality table and rate of interest used in computing the premium for the group.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 138a - Group Life Policies; Pay-Roll Deductions of State and Local Employees

Section 138A. Deductions on pay-roll schedules may be made from the salary of any state, county or municipal employee of any amount which such employee may specify in writing to any state, county or municipal officer, or the head of the state, county, or municipal department, board or commission, by whom or which he is employed, for the payment of premiums on a group life policy issued under section one hundred and thirty-three to an association of state, county or municipal employees and insuring such employee as a member thereof. Any such authorization may be withdrawn by the employee by giving at least sixty days' notice in writing of such withdrawal to the state, county or municipal officer, or the head of the state, county or municipal department, board or commission, by whom or which he is then employed and by filing a copy thereof with the treasurer of the association.
The state treasurer, the common paymaster, as defined in said section one hundred and thirty-three, or the treasurer of the county or municipality by which such employee is employed, shall deduct from the salary of such employee such amount of insurance premiums as may be certified to him on the pay-roll, and transmit the sum so deducted to the treasurer of said association for transmittal to the company, which issued the policy; provided, that the state treasurer, the state comptroller or the county or municipal treasurer, as the case may be, is satisfied by such evidence as he may require that the treasurer of such association has given to said association a bond, in a form approved by the commissioner, for the faithful performance of his duties, in a sum and with such surety or sureties as are satisfactory to the state treasurer or comptroller or county or municipal treasurer.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 139 - Conversion, Alteration or Exchange of Life or Endowment Insurance or Annuity Contracts

Section 139. Any life company may, at the request of the holder thereof, exchange, alter or convert any policy of life or endowment insurance or annuity contract issued by it or a company that is admitted and authorized under this chapter and is an affiliate of it, as defined in section two hundred and six, hereinafter called the original policy, for or into any policy of life or endowment insurance, hereinafter called the rewritten policy, as of the date of the most recently issued original policy or as of the current date, or as of any intermediate date, conforming with the laws in force as of the date of issue which the rewritten policy bears; provided, that, if the rewritten policy bears a date prior to the date of application for exchange, alteration or conversion, the amount of insurance under the rewritten policy shall not exceed the greater of (a) the amount of insurance under the original policy or policies if of life or endowment insurance, or (b) the amount of insurance which the premium paid for the original policy or policies would have purchased if the rewritten policy had been originally issued as of the date of issue it bears. Nothing in section one hundred and twenty shall be construed to prohibit the exchange, alteration or conversion of a policy of life or endowment insurance or annuity contract under this section, and sections one hundred and twenty-three and one hundred and thirty shall not apply to a rewritten policy issued under the authority of this section, except that section one hundred and twenty-three shall apply if the original policy is an annuity contract. Nothing in section one hundred and thirty-one or section one hundred and thirty-two shall be construed to prohibit making the application for the original policy, if one of life or endowment insurance, or the application for the rewritten policy issued under authority of this section, or both such applications, a part of the rewritten policy, by endorsing thereon or attaching thereto a copy of either or both such applications. Nothing in said section one hundred and thirty-two shall be construed to prohibit the incorporation, by a rider or endorsement or otherwise, in a rewritten policy issued under authority of this section and bearing a then current date or an intermediate date of a stipulation making the incontestable provision required by said section one hundred and thirty-two operative from the date of issue of the most recently issued original policy, if one of life or endowment insurance.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 141 - Safety Fund

Section 141. Any domestic life company may from its surplus funds or profits attributable to its participating business accumulate and hold, or hold if already accumulated, as a safety fund, an amount not in excess of 20 per cent of its reserve for such business or one hundred thousand dollars, whichever is greater, and, in addition thereto, any surplus that may have been contributed by the holders of the guaranty stock of the company, or which has been accumulated for the retirement of said guaranty stock and the margin of the market value of its securities over their book value, provided that in cases where the existing surplus or safety fund, exclusive of all accumulations held on account of existing deferred dividend policies, exceeds the limit above designated, the company shall be entitled to retain said surplus or safety fund, but shall not be entitled to add thereto so long as it exceeds said limit, and provided that for cause shown, the commissioner may at any time and from time to time permit any company to accumulate and maintain a safety fund in excess of the limit above mentioned, for such period as the commissioner may prescribe in any one permission, by filing in his office his reasons therefor and causing the same to be published in his next annual report. This safety fund shall be in addition to any safety fund accumulated from a mutual domestic life company's surplus funds attributable to its nonparticipating business, which funds may be appointed equitably, in the discretion of the company, as part of any annual dividend on participating business.
This section shall not apply to any company issuing only nonparticipating policies.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 145 - Cash Surrender Value of Policies of Industrial Life Insurance

Section 145. On policies of industrial insurance issued on or before December thirty-first, nineteen hundred and eleven, by a domestic life company on which premiums are paid weekly and are not more than fifty cents each, the surrender value shall in all cases be payable in cash, which shall be a legal claim for not more than two years from the date of lapse, and be payable within sixty days after the demand therefor. Within ninety days after the lapse of any policy which has a surrender value and upon which a settlement has not been made, the company shall send a notice thereof to the last known address of the holder of said policy, which shall state the amount of the surrender value of said policy. The affidavit of any officer, clerk or agent of the company, or any one authorized to mail such notice, that the notice required herein has been duly mailed by the company, shall be prima facie evidence that such notice was duly given.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 146 - Policies of Industrial Life Insurance; Applicability of Sec. 144

Section 146. The provisions of section one hundred and forty-four shall, except as hereinafter provided, apply to any policy of industrial life insurance issued or delivered in the commonwealth by any life company.
The provisions of said section one hundred and forty-four relative to cash surrender values shall be applicable to industrial life insurance policies only after the premiums thereon have been paid for five full years.
All adjusted premiums for and the present values of any such policy issued on a standard basis prior to January first, nineteen hundred and sixty-eight shall be computed on the basis of the ''1941 Standard Industrial Mortality Table''. In the case of such policies issued on or after January first, nineteen hundred and sixty-eight, all such adjusted premiums and present values shall be computed on the basis of the ''Commissioners 1961 Standard Industrial Mortality Table'', and in computing the present value of any extended term insurance with accompanying pure endowment, if any, the rates of mortality assumed may be not more than those shown in the ''Commissioners 1961 Industrial Extended Term Insurance Table''.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 146a - Default in Payment of Premium on Policy of Industrial Life Insurance; Notice of Non-Forfeiture Benefit

Section 146A. In case of any default in the payment of a premium on any policy of industrial life insurance issued or delivered in the commonwealth by any life company occurring after premiums have been paid thereon for three full years, the company, within six months from the due date of the defaulted premium, shall send by mail to the holder thereof, at his last known address, a notice setting forth any non-forfeiture benefit, other than one elected by the holder, in force under such policy when the notice is mailed. An affidavit of any officer, clerk or agent of the company, or anyone authorized by the company to mail the notice required by this section, that such a notice has been duly mailed on behalf of the company shall be prima facie evidence that such notice was duly mailed. The provisions of this section shall not apply to such a policy on the life of a person who, on the due date of the defaulted premium, is not a resident of the commonwealth, unless the premium on the policy prior to the defaulted premium was paid within the commonwealth to the insurer or its agent.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149 - Participating and Nonparticipating Policies of Life, Endowment and Accident and Sickness Insurance and Annuity and Pure Endowment Contracts

Section 149. A domestic life company is authorized to issue both participating and nonparticipating policies of life, endowment and accident and sickness insurance, and annuity and pure endowment contracts, but no such company shall issue any such participating policies or contracts which do not by their terms give to the holders thereof full right to participate in the accumulations of said company attributable to such business as provided in section one hundred and forty.
Every domestic mutual and stock life company issuing both participating and nonparticipating policies or contracts shall file with the commissioner each year together with its annual statement for the year a separate calculation of its annual analysis of operations by line of business.
A domestic life company issuing policies or contracts on the nonparticipating plan may provide therein that, in addition to the rate of interest guaranteed by the company to be paid on deferred payments of the proceeds, excess interest may be paid thereon at such rate as the company may annually declare; and the inclusion in any nonparticipating policy or contract of such provision shall not be construed to make the policy or contract participating.
The provisions of sections ninety-four, one hundred and ten, one hundred and thirty-two D and one hundred and thirty-seven relative to membership and voting rights shall not apply to nonparticipating policies and contracts issued by a domestic mutual life company under this section, unless the domestic mutual life company elects to provide membership and voting rights in the policy or contract.
The provisions of this section shall not apply to policies of reinsurance.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149a - Unclaimed Funds; Definitions

Section 149A. ''Unclaimed funds'' within the meaning of this section and sections one hundred and forty-nine B to one hundred and forty-nine D, inclusive, shall mean and include all monies held and owing by any life insurance company doing business in this commonwealth which shall have remained unclaimed and unpaid for seven years or more after it is established from the records of such company that such monies became due and payable under any life or endowment insurance policy or annuity contract which has matured or terminated and which monies are payable to a person whose last known address is within this commonwealth, provided, that if a person other than the insured or annuitant be entitled to such funds and no address of such person be known to such company or if it be not definite and certain from the records of such company what person is entitled to such funds, then in either event it shall be presumed for the purposes of this section that the last known address of the person entitled to such funds is the same as the last known address of the insured or annuitant according to the records of such company. A life insurance policy not matured by actual proof of the prior death of the insured shall be deemed to be matured and the proceeds thereof shall be deemed to be ''due and payable'' within the meaning of this section if such policy is in force when the insured shall have attained the limiting age under the mortality table on which the reserve is based. Monies otherwise admittedly due and payable shall be deemed to be ''held and owing'' within the meaning of this section although the policy or contract shall not have been surrendered as required. This section shall not apply to amounts which have been paid to another state or jurisdiction prior to its effective date.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149b - Unclaimed Funds; Reports by Companies

Section 149B. In addition to all other reports required by law, every life company shall, on or before the first day of April of each year, make a report in writing to the state treasurer of all unclaimed funds as defined in section one hundred and forty-nine A held or owing by it on the thirty-first day of December next preceding. The state treasurer may, for cause shown, extend the filing date of said report, for not more than sixty days beyond April first in said year. Such report shall be signed and sworn to by an officer of such insurer and shall set forth with respect to each policy under which such unclaimed funds are due, owing and payable (1) in alphabetical order, the full name of the insured, his last post office address, his policy number and his policy age; (2) the amount of unclaimed funds due, owing and payable under the policy; (3) the full name of each beneficiary named in the policy or appearing in the records of the insurer and the last known address of such beneficiary; and (4) the date on which such unclaimed funds became payable.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149c - Unclaimed Funds; Payment to State Treasurer

Section 149C. On or before the first day of September in each year, each life company shall pay over to the state treasurer all unclaimed funds set forth in the report required by section one hundred and forty-nine B, excepting any funds which since the date of such report have ceased to be unclaimed. Each such payment shall be accompanied by a duplicate of the report made under section one hundred and forty-nine B, together with a statement with respect to any funds which since the date of such report have ceased to be unclaimed.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149d - Unclaimed Funds; Custody; Claims; Proceedings; Judgment and Satisfaction

Section 149D. Upon the payment of such unclaimed funds to the state treasurer, the commonwealth shall assume, for the benefit of those entitled to receive the same and for the safety of the moneys so paid, the custody of such unclaimed funds, and the insurer making such payment shall immediately and thereafter be relieved of and held harmless by the commonwealth from any and all liability for any claim or claims which exist at such time with reference to such unclaimed funds or which may thereafter be made or may come into existence on account of or in respect to any such unclaimed funds. All money paid into the state treasury shall be credited to the General Fund. Any person may, however, establish his claim for money paid to the state treasurer under the provisions of sections one hundred and forty-nine A to one hundred and forty-nine D, inclusive, and any claim so established to the satisfaction of the attorney general shall be paid from funds appropriated for the purpose. In the event legal proceedings are instituted against the insurance company by another state with respect to the unclaimed funds paid to the state treasurer, the insurance company shall notify the attorney general of the commonwealth of such proceedings and the attorney general may, in his discretion, intervene therein. If after the insurance company has actively defended, a judgment in such proceedings is entered against the insurance company for any amount paid to the state treasurer hereunder, the state treasurer shall, upon being furnished with proof of payment in satisfaction of said judgment, immediately reimburse the insurance company the amount so paid to the state treasurer.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149e - Examination of Records of Life Company by State Treasurer

Section 149E. The state treasurer may at any reasonable time following reasonable notice examine the records of any life company to determine if said company has complied with the provisions of this chapter. In the event any life company refuses to permit the state treasurer to examine such records, the state treasurer shall petition the superior court for an order to allow the state treasurer or his agents to examine all appropriate business records of such person.
If the state treasurer believes that any life company has violated the provisions of section one hundred and forty-nine B by withholding or failing to report funds specified therein, the state treasurer shall petition the superior court for an order to require the holder thereof to surrender such unclaimed funds to him.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149m - Definitions Applicable to Secs. 149m to 149x

Section 149M. As used in sections 149M to 149X, inclusive, the following words shall, unless the context clearly requires otherwise, have the following meanings:—
''Administrator'', the person who is responsible for the administration of the service contracts or the service contracts plan.
''Consumer'', an individual who purchases, other than for purposes of resale, tangible personal property used for personal, family or household purposes.
''NAIC'', the National Association of Insurance Commissioners.
''Person'', a natural person, corporation, association, partnership or other legal entity.
''Premium'', the consideration paid to an insurer for a reimbursement insurance policy.
''Provider'', a person who is contractually obligated to the service contract holder under the terms of the service contract.
''Reimbursement insurance policy'', a policy of insurance issued to a provider to either provide reimbursement to the provider under the terms of the insured service contracts issued or sold by the provider or, in the event of the provider's nonperformance, to pay on behalf of the provider all covered contractual obligations incurred by the provider under the terms of the insured service contracts issued or sold by the provider.
''Service contract'', a contract for a separately stated consideration and for a specific duration to perform the service, repair, replacement or maintenance of tangible personal property or indemnification for service, repair, replacement or maintenance, for the operational or structural failure due to a defect in materials or workmanship or normal wear and tear, with or without additional provision for incidental payment or indemnity under limited circumstances, for related expenses, including, but not limited to, rental and food spoilage.
''Service contract holder'', a consumer who is in possession of a service contract.
''Warranty'', a guarantee incidental to the sale of the product made solely by the manufacturer, importer or seller of property or services; provided, however that consideration that is negotiated or separated from the sale of the product that guarantees indemnity for defective parts, mechanical or electrical breakdown, labor or other remedial measures, such as repair or replacement of the property or repetition of services shall not be included within the definition of ''warranty''.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149o - Reimbursement of Covered Sums or Performance of Service Pursuant to Reimbursement Insurance Policy

Section 149O. (a) Reimbursement insurance policies insuring service contracts issued, sold or offered for sale in the commonwealth shall require the insurer that issued the reimbursement insurance policy to reimburse or pay on behalf of the provider any covered sums the provider is legally obligated to pay or, in the event of the provider's non-performance, shall provide the service which the provider is legally obligated to perform according to the provider's contractual obligations under the service contracts issued or sold by the provider.
(b) In the event covered service is not provided by the service contract provider within 60 days of proof of loss by the service contract holder, the contract holder may apply directly to the reimbursement insurance company.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149p - Form and Content of Service Contracts

Section 149P. Service contracts shall be printed in clear and understandable language and shall include: (1) a statement in substantially the following form: ''Obligations of the provider under this service contract are insured under a service contract reimbursement insurance policy'', or for service contracts not insured under a reimbursement insurance policy a statement in substantially the following form: ''Obligations of the provider under this service contract are backed by the full faith and credit of the provider''; (2) the name and address of the insurer, including the reimbursement insurance policy insurer, provider, an administrator if different from the provider, the service contract seller and the service contract holder to the extent that the name of the service contract holder has been furnished by the service contract seller; (3) the total purchase price and the terms under which service contract was sold; (4) the existence of any deductible amount, if applicable; (5) the property and services to be provided and any limitations, exceptions or exclusions, if applicable; (6) any restrictions governing the transferability of the service contract; (7) the terms, restrictions or conditions governing cancellation of the service contract prior to the termination or expiration date of the service contract by either the provider or the service contract holder; provided, however, that the provider of the service contract shall mail a written notice to the contract holder, including the effective date of the cancellation and the reason for the cancellation, at the last known address of the service contract holder contained in the records of the provider at least 5 days prior to cancellation by the provider unless the reason for cancellation is nonpayment of the provider, material misrepresentation or a substantial breach of duties by the service contract holder relating to the covered product or its use; (8) all of the obligations and duties of the service contract holder, such as the duty to protect against any further damage and any requirements to follow owner's manual; and (9) whether or not the service contract provides for any preexisting conditions.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149q - Prohibited Language in Provider Name; False or Misleading Statements; Purchase of Service Contract as Condition of Loan or Sale of Property Prohibited

Section 149Q. (a) A provider shall not: (i) use in its name the words insurance, casualty, surety, mutual or any other words descriptive of the insurance, casualty or surety business; or (ii) a name deceptively similar to the name or description of any insurance or surety corporation or to the name of any other provider; provided, however, that the words ''guaranty'', ''warranty'' or other similar words may be used.
(b) A provider or its representative shall not permit or cause to be made any false or misleading statement or deliberately omit any material statement that a reasonable person would consider misleading if omitted.
(c) A person shall not require the purchase of a service contract as a condition of a loan or a condition for the sale of any property, but may promote, endorse or recommend the purchase unless otherwise prohibited by law.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149r - Maintenance and Retention of Accounts, Books and Records

Section 149R. (a) The provider shall keep accurate accounts, books and records concerning transactions regulated under sections 149M to 149W, inclusive, which shall include: (i) copies of each type of service contract sold; (ii) the name and address of each service contract holder to the extent that the name and address have been furnished to the service contract provider; and (iii) written or electronic claims files which shall contain the dates and description of claims related to the service contract.
(b) Except as provided in subsection (d), the provider shall retain all records required to be maintained by this section for at least 1 year after the specified period of coverage has expired.
(c) Records required under sections 149M to 149W, inclusive, may be maintained in electronic format. If the records are maintained in a form other than hard copy, the records shall be capable of duplication to legible hard copy at the request of the commissioner.
(d) A provider discontinuing business in the commonwealth shall maintain its records until the commissioner certifies that the provider has furnished satisfactory proof that the provider has discharged all obligations to service contract holders in the commonwealth.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149s - Termination of Reimbursement Insurance Policy

Section 149S. An insurer issuing a reimbursement insurance policy shall not terminate the policy until a notice of termination has been mailed or delivered to the commissioner. The termination of a reimbursement insurance policy shall not reduce the issuer's responsibility for service contracts issued by providers prior to the date of the termination.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149t - Receipt of Premiums for Reimbursement Insurance Policy; Insurer Right to Indemnification or Subrogation

Section 149T. (a) An insurer issuing reimbursement insurance to providers shall be considered to have received the premiums for such insurance upon the payment of provider fees by consumers for service contracts issued by such insured providers.
(b) Sections 149M to 149W, inclusive, shall not prevent or limit the right of an insurer which issued a reimbursement insurance policy to seek indemnification or subrogation against a provider if the insurer pays or is obligated to pay the service contract holder sums that the provider was obligated to pay under the service contract.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149u - Enforcement of Secs. 149m to 149w

Section 149U. (a) The commissioner may conduct examinations of providers, administrators, insurers or other persons to enforce sections 149M to 149W, inclusive, and protect service contract holders. Upon request of the commissioner, the provider shall make all accounts, books and records concerning service contracts sold by the provider available to the commissioner which are necessary to enable the commissioner to reasonably determine whether the provider is complying with sections 149M to 149W, inclusive.
(b)(1) The commissioner may enforce sections 149M to 149W, inclusive. The commissioner may, without limitation: (i) issue a cease and desist order to prevent continuing violations of those sections; (ii) issue an order prohibiting a service contract provider from selling or offering for sale service contracts in violation of those sections; or (iii) issue an order imposing a civil penalty on that provider or any combination of the foregoing, as applicable.
(2) A person aggrieved by an order issued under this subsection may request a hearing before the commissioner. The request shall be filed with the commissioner within 20 days of the commissioner's order. If a hearing is requested, an order issued by the commissioner under this section shall be suspended from the original effective date of the order until completion of the hearing and final decision of the commissioner. At the hearing, the burden shall be on the commissioner to show why the order issued under this subsection is justified.
(3) The commissioner may bring an action in any court of competent jurisdiction for an injunction or other appropriate relief to enjoin threatened or existing violations of sections 149M to 149W, inclusive. An action filed under this paragraph may also seek restitution on behalf of persons aggrieved by a violation of said sections or orders or regulations of the commissioner.
(4) A person who is found to have violated sections 149M to 149W, inclusive, or orders or regulations of the commissioner issued under those sections, may be assessed a civil penalty in an amount determined by the commissioner of not more than $500 per violation and not more than $10,000 in the aggregate for all violations of a similar nature. For purposes of this section, violations shall be of a similar nature if the violation consists of the same or similar course of conduct, action or practice, irrespective of the number of times the act, conduct or practice which is determined to be a violation of said sections occurred.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149v - Exemptions From Secs. 149m to 149w

Section 149V. The following shall be exempt from sections 149M to 149W, inclusive: (a) warranties, service contracts or maintenance agreements provided by public utilities that are regulated by the department of telecommunications and cable or the Federal Communications Commission, or by an affiliate of such entity, covering customer wiring, transmission devices serviced by such public utility or warranting services provided by such public utility or its affiliate; (b) mechanical breakdown insurance policies offered by insurers otherwise licensed and regulated under the insurance laws and regulations of the commonwealth; (c) warranties, service contracts or other agreements regarding automobiles; and (d) warranties offered by builders as part of a conveyance of real estate.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 149x - Retention and Use of Collected Registration Fees

Section 149X. The commissioner shall retain all registration fees collected under subsection (c) of section 149N and fines collected under clause (4) of subsection (b) of section 149U; provided, however, that revenue in excess of $100,000 annually shall revert to the General Fund. The retained revenue collected may be used by the commissioner to support the commissioner's registration, rulemaking and enforcement activities under sections 149M to 149W, inclusive.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 150 - Admission of Foreign Companies

Section 150. Foreign companies, upon complying with the conditions herein set forth applicable to such companies, may be admitted to transact in the commonwealth any kinds of business authorized by this chapter, subject to all general laws now or hereafter in force relative to insurance companies, and subject to all laws applicable to the transaction of such business by foreign companies and their agents; except that no foreign stock company may issue participating policies unless specifically authorized to do so by its charter or by the laws of its state or government; provided, that no provision of law which by its terms applies specifically to domestic life companies shall thereby become applicable to foreign life companies; and provided, further, that the provisions of section eighty-one relative to the contingent mutual liability of members shall not apply to any foreign mutual fire company which had been admitted to transact business in the commonwealth prior to January first, nineteen hundred and twenty-one and was then actually transacting business therein without complying with said provisions.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 152 - Kinds of Business Which May Be Transacted by Foreign Companies

Section 152. No foreign company shall transact in this commonwealth any kind of business not specified in its charter and in its license. Any foreign stock company, or any company described in section one hundred and fifty-five, admitted to the commonwealth, may, if its charter permits, be licensed to transact the kinds of business permitted to domestic stock companies under section fifty-one, subject to the provisions of clause (d) of said section fifty-one and of subdivision (2) of the second clause of section one hundred and fifty-one and of the first clause of said section one hundred and fifty-five. Any foreign mutual company admitted to the commonwealth may, if its charter permits, be licensed to transact the classes of business permitted to domestic mutual companies under section fifty-four, subject to the provisions of clause (c) of said section fifty-four and of subdivision (3) of the second clause of said section one hundred and fifty-one. Any foreign life company admitted to the commonwealth may, if its charter permits, be licensed to transact the kinds of business permitted to domestic life companies under section one hundred and nineteen and, subject to all the conditions which the commissioner may prescribe, under section fifty-four G.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 152a - Foreign Mutual Fire Companies; Non-Assessable Policies; Issuance; Conditions

Section 152A. Any mutual fire company admitted before or after this section takes effect to transact business in this commonwealth may issue non-assessable policies in compliance with the requirements of section eighty-five A and any such mutual company, or any company specified in the first paragraph of section ninety, may issue non-assessable policies in compliance with the requirements of section ninety-three F, except that the deposit required in either case may be made in the home state of such admitted company in cash or securities legal for investments by such companies in such home state. Any deposit required for the purposes specified in either of said sections shall be inclusive of, and not in addition to, any deposit required by any other state to be made for the benefit of all policyholders in the United States. 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; provided, that any foreign mutual company hereinbefore referred to which has not itself or through its predecessor or predecessors been so engaged in the insurance business continuously for ten or more years may issue non-assessable policies if it has and maintains a surplus to policyholders of not less than one million dollars. 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.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 153 - Foreign Life Companies; Conditions of Admission

Section 153. A company organized under the laws of any other state of the United States for the transaction of life insurance may, subject to all provisions of section one hundred and fifty-one so far as applicable to a life company, be admitted and authorized to do business in this commonwealth if it has been issuing life insurance policies or annuity contracts during each of at least the preceding three years; provided, however, that if it is a stock company it shall comply with the financial requirements specified in sections forty-eight and fifty-one; and provided further, that if it is a mutual company it shall comply with the financial requirements specified in sections fifty-four and ninety-three E.
Notwithstanding any other provisions of law to the contrary, if the company is a majority-owned subsidiary of a domestic or an admitted life company, it shall be deemed to have satisfied the three years' policy issuance requirement contained in the first paragraph; provided, however, that the domestic or admitted life company satisfies the provisions of the first paragraph; and, provided further, that the commissioner determines that such domestic or admitted life company has a satisfactory record of doing business in the commonwealth during the preceding three years. For purposes of this section, a company shall be a majority-owned subsidiary of a domestic or an admitted life company only if a majority of the total issued and outstanding voting stock of such company is owned either directly by the domestic or admitted life company or indirectly by the domestic or admitted life company through one or more companies, the majority of the issued and outstanding voting stock of each of which is owned by its immediate parent.
Any such company organized under the laws of a state or government other than one of the United States may be so admitted and authorized, subject to all the provisions of section one hundred and fifty-one as aforesaid, if, in addition to fulfilling all the requirements of this section, it complies with section one hundred and fifty-five, and if it shall have and keep on deposit as provided in section one hundred and fifty-five or in the hands of trustees as provided in section one hundred and fifty-six, in exclusive trust for the security of its contracts with policyholders in the United States, funds of an amount equal to the net value of all its policies in the United States, less all indebtedness thereon, and not less than four hundred thousand dollars.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 154 - Service of Process on Foreign Company; Duty of Commissioner; Fees

Section 154. When legal process is served upon the commissioner as attorney for a foreign company under the third clause of section one hundred and fifty-one, he shall forthwith forward by mail, postage prepaid, one of the duplicate copies of the process served on him, addressed to the company at its last home office address appearing on his records, or, in the case of a company of a foreign country, to its resident manager in the United States, addressed to him at the last address appearing on said records, or to such other person as may previously have been designated by the company by written notice filed in the office of the commissioner. As a condition of valid and effectual service and of the duty of the commissioner in the premises, there shall be paid to him, except as provided in section fourteen, at the time of service thereof the fee prescribed by said section, which the plaintiff shall recover as taxable costs if he prevails in his suit. The commissioner shall keep a record of all legal processes showing the day and hour of service.
2023 Massachusetts General Laws › Part I - Administration of the Government › Title XXII - Corporations › Chapter 175 - Insurance › Section 156 - Companies Formed Under Laws of Any Government or State Other Than the United States or One of the United States; Appointment of Trustees

Section 156. Any such company may appoint trustees, who are citizens or corporations of the United States and approved by the commissioner, to hold funds in trust for the benefit of its policyholders and creditors in the United States. Said trustees shall be named by the directors of the company, and a certified copy of the record of the appointment of such trustees and a duplicate original of the deed of trust on a form approved by him shall be filed with the commissioner, who may examine such trustees and the assets in trust and all books and papers relative thereto in the same manner as he may examine the officers, agents, assets and affairs of companies. The funds so held by such trustees, and all assets held by or for such company within the United States for the benefit of its policyholders and creditors in the United States, so far as the same are in securities, money or credits admissible as sound assets in the financial accounts of companies, shall, with its deposits made in accordance with the preceding section, constitute the assets of such company for the purpose of making its annual statements to the commissioner. Such company shall file with the annual statement required by section twenty-five a statement of the trustees executed as prescribed in the preceding section, in such form and detail as the commissioner requires, showing the funds held by them.