§ 1 Definitions
§ 2 Insurance contract; definition
§ 2A Reinsurance contracts; status
§ 2B Readability of policy form; definition; approval; actions based on language
§ 3 Unauthorized insurance, annuity or variable annuity contracts; prohibition
§ 3A Administration and enforcement of insurance laws by commissioner of insurance; report of violations
§ 3B Action for injunction restraining violations of chapter
§ 3C Promulgation of regulations defining certain terms relating to medical insurance
§ 4 Examination of companies
§ 4A Provision of data to commissioner by homeowners insurers and joint underwriting association; access to confidential data; annual report to general court
§ 4B Annual report to commissioner of cancellations and non-renewals of homeowners policies
§ 4C Nondiscrimination in provision, renewal, or cancellation of homeowners insurance
§ 4D Coverage to be made available to residential owners for release of heating oil
§ 4E Refusal to issue or renew private passenger motor vehicle insurance policy based on credit information prohibited
§ 4F Liability insurance and notice requirements for operators of short-term rentals and hosting platforms
§ 4G Verification of applicant driving history prior to issuing private passenger motor vehicle insurance policy
§ 5 Revocation or suspension of license of foreign company; grounds; notice; appeal
§ 6 Injunction and appointment of receiver for domestic company; grounds
§ 8A Summoning of witnesses
§ 9 Computation of reserve liability or net value of life company with respect to policies or contracts
§ 9A Computation of claim fluctuation reserve of domestic life insurance company
§ 9B Annual actuary opinion
§ 9B1/2 Submission of opinion by appointed actuary as to adequacy of reserves and related actuarial items held in support of outstanding insurance contracts
§ 10 Liability of company other than life company and health maintenance organization upon its contracts of insurance
§ 11 Computation of assets and liabilities
§ 11A Valuation of investments
§ 12 Computation of reserve required of liability company
§ 14 Charges and fees
§ 14A Committee on Valuation of Securities of National Association of Insurance Commissioners; assessment of expenses
§ 16 Record of proceedings; certified copies
§ 17 Annual report to the general court
§ 18 Conduct of business in corporate name; publication of assets and liabilities
§ 19A Merger or consolidation; domestic corporations
§ 19B Merger or consolidation; formation of foreign corporation
§ 19C Merger or consolidation; rights of minority stockholders
§ 19D Conversion from stock to mutual company
§ 19E Conversion from mutual to stock company
§ 19F Reorganization as domestic stock insurer owned by mutual holding company
§ 19G Definitions applicable to Secs. 19F to 19W
§ 19H Plan of reorganization; public hearing; approval of plan; meeting
§ 19I Receipt of fee, commission or valuable consideration for aiding, promoting or assisting in reorganization
§ 19J Withdrawal or amendment of plan of reorganization
§ 19K Issuance of certificate of authority to reorganized insurer; approval of articles of organization; status upon effective date of plan; rights of members
§ 19L Actions concerning plan or proposed plan of reorganization or plan amendment or proposed plan amendment
§ 19M Amendment of amended articles of organization or plan of reorganization upon effective date; vote
§ 19N Continued use of word ”mutual” in name of reorganized insurer
§ 19O Transfer of assets and liabilities of reorganized insurer
§ 19P First offer of voting stock after effective date of plan of reorganization; application
§ 19Q Mutual life insurer as reorganizing insurer; establishment of closed block or alternate method for protection of existing policyholders’ contractual rights
§ 19R Additional requirements applicable to reorganizing insurers, intermediate stock holding companies and mutual holding companies
§ 19S Merger or consolidation of two or more mutual holding companies; written agreement of terms and conditions; pending actions, obligations and liabilities
§ 19T Domestic mutual insurance company reorganizing with existing domestic or foreign mutual holding company; terms and conditions
§ 19U Conversion of domestic mutual holding company into domestic stock corporation
§ 19V Transactions entered into by mutual insurers for purpose of avoiding total gross investment income earned excise
§ 19W Promulgation of regulations
§ 19X Disclosure by mutual companies of compensation paid to executive officers and directors
§ 20 Reinsurance
§ 20A Credit for reinsurance; requirements
§ 21 Limitation of amount insured in single risk; penalty
§ 22 Unauthorized policy provisions; effect
§ 22A Combination of hazards; approval
§ 22B Waivers of provisions of this chapter; prohibition; penalty
§ 22C Cancellation of motor vehicle policies
§ 22D Statement of reasons for cancellation; liability
§ 22E Refusal to issue, renew or execute motor vehicle liability policy or bond
§ 22H Refusal to issue or renew motor vehicle liability policies or bonds; suspension of license; public hearings; definitions
§ 22I Amounts received in settlement of claims retained for unpaid premiums
§ 23 Life company; impairment of funds; issuance of policies; penalty
§ 23A Certain occurrences affecting insurance companies; notice to commissioner
§ 24 Life insurance policies; accidental death, disability benefits; approval
§ 24A Refusal to issue policy or limits on coverages based on sex of insured; prohibition
§ 24B Modification in covered services or payments; prior notice of modification; contents of notices
§ 24D Lump sum insurance payments; exchange of claimant information between IV–D agency and insurance companies; withholding of past-due child support subject to lien
§ 24E Duty to assist recovery of public benefits; denial of claims; penalties; electronic access; wrongful use; emergencies
§ 24F Duty to exchange information with department of revenue; definitions; penalties for failure to exchange information; exceptions
§ 25 Annual statements; form; contents
§ 25A Workers’ compensation providers; annual reports; contents
§ 26 Failure to make and file annual statements; penalty
§ 27 Annual statements; inclusion of schedule of claims made subject of suits
§ 28 Undue delay or litigation of claims; commissioner’s report to general court
§ 29 Companies subject to this chapter
§ 30 Applicability of other laws to certain domestic companies; ”stockholder” defined
§ 31 Continuation of certain domestic companies
§ 31A Domestic companies formed by special acts; extension of territorial limits
§ 32 Commencement of domestic company business; certificate; conditions precedent
§ 33 Policies and endorsements; signatures; facsimile
§ 34 Home office; change of address; perjury
§ 35 Salaries of officers, trustees or directors of domestic company; authorization; limitations
§ 36 Pension for domestic company employees
§ 36A Agents and agency employees; retirement or insurance benefits
§ 36B Health and accident insurance companies; employees insurance benefits
§ 37 Vouchers for disbursements
§ 37A Relief fund contributions by domestic company; charitable, scientific or educational contributions
§ 44 Failure of domestic company to timely commence business; organization under special act; withdrawal from insurance business and continuance as business corporation
§ 45 Unauthorized agencies; penalty
§ 46 Insolvent domestic companies; preference of claims for unpaid losses
§ 46A Insolvent domestic workers’ compensation insurer; preference of claims for unpaid losses under workers’ compensation policies
§ 46B By-laws of domestic insurance companies; filings
§ 47 Purposes for which companies may be incorporated under this chapter
§ 47A Businesses in which domestic insurance company may engage
§ 47AA Coverage for diagnosis and treatment of autism spectrum disorder
§ 47B Mental health benefits; biologically-based mental disorders; mental disorders of rape victims; non-biologically-based mental disorders of children and adolescents under age 19
§ 47BB Coverage for children under age 18 for cleft lip and cleft palate
§ 47C Dependent coverage for newborn infants or adoptive children; inclusion in policies of accident and sickness insurance
§ 47D Cardiac rehabilitation expense benefits
§ 47DD Coverage for orally administered anticancer medications
§ 47E Certified nurse midwife services benefits
§ 47EE Coverage for abuse deterrent opioid drug products
§ 47F Abortion, abortion-related care, prenatal, childbirth and postpartum care benefits; minimum coverage for in-patient care
§ 47FF Preauthorization or substance abuse treatment not to be required
§ 47G Cytologic screening and mammographic examination expense benefits
§ 47GG Coverage for medically necessary acute treatment and clinical stabilization services
§ 47H Infertility, pregnancy-related benefits
§ 47I Nonprescription enteral formulas for home use
§ 47II Coverage for medical or drug treatments to correct or repair disturbances of body composition caused by HIV associated lipodystrophy syndrome
§ 47J Standardized claim form
§ 47JJ Filling of remaining portion of prescription for covered drug that is a narcotic substance earlier filled in lesser quantity
§ 47K Off-label drug use; cancer treatment
§ 47KK Pain management access plans
§ 47L Off-label drug use; cancer; review panel
§ 47LL Coverage for tobacco use cessation counseling and tobacco cessation products
§ 47MM Coverage for health care services delivered via telehealth
§ 47N Items medically necessary for diagnosis and treatment of diabetes
§ 47NN Coverage for treatment of pediatric autoimmune neuropsychiatric disorders associated with streptococcal infections and pediatric acute-onset neuropsychiatric syndrome
§ 47O HIV/AIDS treatment; insurance coverage for certain off-label use of prescription drugs
§ 47P Off-label use of prescription drugs for HIV/AIDS treatment; advisory panel
§ 47PP Coverage for prescription eye drops
§ 47Q Insurance benefits for services rendered by nurse anesthetists and nurse practitioners
§ 47QQ Coverage for mental health or substance use disorder services delivered through psychiatric collaborative care model
§ 47R Accident and sickness insurance benefits for bone marrow transplants
§ 47RR Benefits for medically necessary emergency services programs
§ 47S Accident and sickness insurance benefits for licensed hospice services
§ 47SS Coverage for medically necessary mental health acute treatment, community-based acute treatment and intensive community-based acute treatment
§ 47T Scalp hair prostheses necessary due to cancer or leukemia treatment
§ 47TT Coverage for annual mental health wellness examination
§ 47U Emergency services provided to insureds for emergency medical conditions
§ 47UU Coverage for federally-defined preventive services
§ 47V Coverage for human leukocyte or histocompatibility locus antigen testing
§ 47W Outpatient services; hormone replacement therapy for peri and post menopausal women; contraceptive services; approved prescription contraceptive drugs or devises; exception
§ 47X Diagnosis and treatment of speech, hearing and language disorders
§ 47Y Coverage for medically necessary hypodermic syringes or needles
§ 47Z Coverage for prosthetic devices and repairs
§ 48 Stock companies; formation; capital; stock; options; promoter defined
§ 48A Mutual companies; formation; capital and surplus
§ 49 Formation of corporation
§ 49A Domestic insurers; requirements; transfer of domicile
§ 50 Stock companies; amendment of articles of organization
§ 50A Mutual companies; amendment of articles of organization
§ 50B Amendment of articles of organization; submission; approval; filing; effective date
§ 51 Domestic stock companies; kinds of business that may be transacted; power to combine
§ 54 Domestic mutual companies; kinds of business that may be transacted; power to combine
§ 54A Domestic companies; risks and hazards in other states
§ 54B Reinsurance of risks; exceptions
§ 54C Motor vehicle insurance
§ 54D Personal property floater
§ 54E Dwelling houses; comprehensive and medical coverages
§ 54F Commercial property, goods in storage or transit, and other merchandise or equipment; coverage by certain companies in fire insurance policies
§ 54G Reinsurance or pooling of risks by life insurance companies; regulations; approval and certificate; restrictions
§ 55 Continuation of mutual companies organized to transact employers’ liability insurance or steam boiler insurance
§ 56 Fraternal societies; reincorporation
§ 57 Domestic stock companies; directors; quorum
§ 58 Domestic stock companies; duties of directors
§ 59 Domestic stock companies; president and secretary; duties; records; inspection
§ 60 Domestic stock companies; bonds of officers
§ 62 Domestic stock companies; liability of officers
§ 63 Capital and reserve; payment; investment
§ 63A Limitation on acquisition of or investment in medium grade or lower grade obligations
§ 64 Investments
§ 65 Investment in loans upon mortgages
§ 66 Life companies; investments
§ 66A Life companies; acquisition of housing projects; limitations
§ 66B Life companies; acquisition of realty; limitations
§ 66C Life companies; investment in stock of insurance companies
§ 66D Life companies; investment in and acquisition of stock of subsidiary corporations
§ 66E Life companies; investment in limited partnership interests
§ 66F Acquisition of interest in limited liability company by domestic life company
§ 67 Life companies; charter limitations on investments; exception
§ 68 Unauthorized investments; disposition
§ 69 Impaired capital; assessment; effect of non-compliance with commissioner; order
§ 70 Increase of stated capital
§ 71 Reduction of stated capital
§ 72 Dividends
§ 73 Mutual fire companies; solicitation of business; issuance of policies; restrictions; penalties
§ 74 Mutual fire companies; further insurance by certain companies; certificates
§ 75 Mutual fire companies; underwriters; compensation
§ 76 Mutual fire companies; members; annual meetings; voting rights
§ 77 Mutual fire companies; directors
§ 78 Mutual fire companies; laws applicable; records; perjury; inspection; jurisdiction
§ 79 Mutual fire companies; guaranty capital; dividends; retirement
§ 80 Mutual fire companies; dividends; accumulated profits
§ 81 Mutual fire companies; premiums; contingent liability
§ 82 Mutual fire companies; power of certain companies to take deposit notes
§ 83 Mutual fire companies; assessments
§ 84 Mutual fire companies; review or order of assessment by supreme judicial court
§ 85 Mutual fire companies; penalty for guaranty against assessments; personal liability of officers
§ 85A Mutual fire companies; non-assessable policies; issuance
§ 86 Mutual marine companies; subscribers; losses; dividends; redemption fund
§ 88 Mutual marine companies; applicability of Secs. 76, 77 and 78
§ 89 Mutual marine companies; liability of president or director
§ 90 Provisions relating to mutual fire companies applicable to other mutual companies
§ 90A Policies; issuance by mutual fire and marine and automobile companies; conditions precedent
§ 90B Policies; issuance by mutual fidelity and corporate surety companies; guaranty capital; members
§ 90C Guaranty fund; creation in lieu of guaranty capital by certain mutual companies
§ 91/2 Valuation of reserve liabilities for outstanding insurance policies and annuity and pure endowment contracts
§ 93 Mutual liability companies; issuance of policies
§ 93A Miscellaneous mutual companies; issuance of policies
§ 93B Mutual surety, liability and casualty companies; issuance of policies; condition precedent
§ 93C Mutual surety, liability and casualty companies; guaranty fund; establishment
§ 93D Mutual surety, liability and casualty companies; impairment of guaranty capital or decrease in business; effect
§ 93E Mutual life, liability and casualty companies; issuance of policies; dividends
§ 93F Non-assessable policies; issuance
§ 94 Mutual life companies; members, voting rights; selection and qualifications of directors
§ 94A Definitions applicable to Secs. 94B to 94M and remainder of this chapter, and to chapter 152
§ 94B Exchange of reciprocal or inter-insurance contracts
§ 94C Domestic exchange; organization; preliminary certificate
§ 94D Domestic exchange; provisional and permanent certificates to transact business; application and declaration
§ 94E Foreign exchange; license to transact business; application and declaration; requirements
§ 94F Examination of application and declaration by commissioner; issuance of license to transact business
§ 94G Issuance of insurance contracts; conditions precedent
§ 94H Required amount of assets, surplus and reserve maintained in hands of attorney in fact; applicability of other laws to exchanges
§ 94I Annual reporting by reciprocal insurance exchange; examination of affairs of exchange by commissioner
§ 94J Applicability of chapter to contracts of reciprocal or inter-insurance and exchanges thereof, attorneys in fact and other representatives
§ 94K Advisory committee
§ 94L Power of attorney
§ 94M Unused premium deposits
§ 94N Domestic exchange; conversion to or merger with domestic mutual insurance company
§ 95 Fire insurance policy of amount exceeding fair value of property or for term of longer than seven years prohibited
§ 95A Requirement of fire insurance policy exceeding amount of outstanding mortgage prohibited
§ 95B Discrimination against abuse victim in any term or condition of residential property insurance policy prohibited
§ 96 Fire loss; limitation on liability beyond actual value of insured property; reimbursement of premium paid on amount in excess of actual value
§ 96A Loss of use or occupancy; limitations
§ 97 Payment to mortgagees under fire insurance policy
§ 97A Claims for loss or damage to real property in amount greater than five thousand dollars; priority of claims of city or town for payment of municipal liens
§ 98 Application for fire insurance
§ 99 Standard form and content of policies or contracts insuring against loss or damage by fire or by fire and lightning
§ 99A Loss or damage caused by nuclear reaction, nuclear radiation or radioactive contamination
§ 99B Property insurance for business, professional or governmental operation; multi-peril homeowners insurance for condominiums
§ 99C Sailmaker shops; insurance against damage or loss by fire or fire and lightning
§ 100 Reference of amount of loss under policy of fire insurance to referees; selection of referees
§ 100A Reference of amount of loss under policy of fire insurance to referees; appointment of replacement referee
§ 100B Reference of amount of loss under policy of fire insurance to referees; qualification of referee
§ 101 Reference of amount of loss under policy of fire insurance to referees; timing of hearing
§ 101A Reference of amount of loss under policy of fire insurance to referees; publication and delivery of award
§ 101B Reference of amount of loss under policy of fire insurance to referees; liability of company and insured for compensation and expenses of third referee; review by commissioner
§ 101C Reference of amount of loss under policy of fire insurance to referees; payment of charges of third referee
§ 101D Determination by referees of sound value of property affected
§ 101E Reference of amount of loss or sound value of affected property under policy of fire insurance to referees; non-waiver of legal defenses to claim
§ 101F Reference of amount of loss or sound value of affected property under policy of fire insurance to referees; penalty for non-compliance with Secs. 100, 101A or 101D
§ 101G Reference of amount of loss or sound value of affected property under policy of fire insurance to referees; effect of appointment of receiver for domestic fire company
§ 101H Sound value
§ 102 Proof of loss; written notice of fire in lieu of sworn statement specified by Sec. 99
§ 102A Combination policies; contents; commissioner’s approval
§ 102B Combination policies; mutual companies
§ 102C Policy against loss or damage to property by radioactive contamination; form; contents; requisites
§ 102D National flood insurance program; authorization of participating companies to issue policies; proof of loss; service of process
§ 102E Crime insurance policies
§ 105 Fidelity and corporate surety companies; powers
§ 106 Foreign fidelity and corporate surety companies; deposit with state treasurer
§ 107 Surety bonds; status
§ 108 Accident and health insurance policies; commissioner’s approval; contents
§ 108A Refusal to issue policy of accident and sickness insurance for reason of blindness or deafness prohibited
§ 108B Inclusion of registered dentists within meaning of ”physician” or ”doctor” as used in policies of accident and sickness insurance or contracts for health care, services or benefits
§ 108C Discrimination in issuance, denial, cancellation, renewal or rates of policy of accident and sickness insurance for reason of exposure to diethylstilbestrol or DES compounds prohibited
§ 108D Reimbursement for chiropractic services
§ 108E Disclosure of information relating to outpatient diagnosis or treatment of mental or nervous conditions
§ 108G Discrimination in issuance, denial, cancellation, renewal or rates of policy of accident and sickness insurance based on information that individual has been victim of abuse prohibited
§ 108H Terms of accident or sickness insurance policies; genetic tests; discrimination based on genetic information
§ 108I Disability or long term care insurance policies; genetic tests; discrimination based on genetic information
§ 108J Disability insurance policies; discrimination based upon lawful travel experiences or plans prohibited
§ 108L Attribution of members to a primary care provider
§ 108M Disclosure of patient-level data and contracted prices of individual health care services by carriers to providers
§ 108N Disability insurance policies; discrimination based upon race, color, religious creed, national origin, sex, pregnancy, gender identity, sexual orientation or marital status prohibited
§ 110 General or blanket policies; power to issue; non-applicability of Sec. 108
§ 110A Disability insurance; exemption from attachment; exception
§ 110B Non-payment of premium of accident, health or individual life insurance policy; termination or lapse of policy; notice; limitation of action
§ 110C Health insurance of persons over 65; issuance by two or more companies
§ 110D Continuation of coverage after insured leaves group covered by general or blanket policy
§ 110E Standards for disclosure of form, content and advertising of accident and sickness insurance policies; rules and regulations; enforcement procedures and penalties
§ 110F Effect of federal social security benefit increase upon payment of benefits under disability policy
§ 110G Continuation of coverage under group hospital, surgical or medical insurance plan upon involuntary layoff or death of member
§ 110H Cancellation of policy of accident and health upon insured reaching age 65; notice to insured
§ 110I Continuation of coverage under group hospital, surgical, medical or dental insurance plan upon divorce or separation of member
§ 110J Group policies issued to trustees of fund appointed by council on aging
§ 110K Alternative dental coverage option
§ 110L Clinical trials; definitions; coverage
§ 110M Statements provided to individuals provided with creditable coverage; reports
§ 111 Beneficiary; power to sue
§ 111A Liability insurance; combination policies; contents; commissioner’s approval
§ 111B Liability insurance; combination policies; issuance by mutual companies; notice of reduced or eliminated coverages
§ 111C Medical pay provisions
§ 111D Uninsured vehicle endorsement
§ 111E Professional liability policies
§ 111F Medical reports; furnishing copy to injured person or attorney
§ 111G Extent of family coverage; stated deductible amount
§ 111H Liability insurance for residential property owners complying with lead poisoning prevention guidelines
§ 112 Payment of losses; regulations
§ 112A Liquor liability insurance; coverage
§ 112B Cancellation of liquor liability insurance by insurer; notice to insured and to licensing authorities
§ 112C Disclosure of coverage limits to claimants; penalty
§ 113 Judgment; satisfaction
§ 113A Motor vehicle liability policies; contents; commissioner’s approval; options to purchase policies or bonds; notice of reduced or eliminated coverages
§ 113B Classification of risks and premium charges in connection with motor vehicle liability policies or bonds
§ 113B1/2 Increase in premium of motor vehicle liability policy resulting from at-fault accident not satisfying criteria for minor or major accident prohibited
§ 113C Notice to registrar of companies authorized to issue motor vehicle liability policies or to act as surety upon motor vehicle liability bonds; mandatory offer of additional coverage; limits
§ 113D Cancellation of motor vehicle liability policy; proceedings; review
§ 113E Deposit premiums
§ 113F Notice of intent to not issue, extend or renew motor vehicle liability policy or to execute or act as surety on motor vehicle liability bond
§ 113G Officers, directors and employees of company issuing or executing motor vehicle liability policies or bonds; financial interest in companies or agencies; restrictions
§ 113H Assigned risk plans
§ 113I Freedom of contract between insurers and agents or brokers; manner of issuing policies
§ 113J Furnishing of reports of medical examinations of person injured in motor vehicle accident
§ 113K Minors; contracts for motor vehicle liability insurance
§ 113L Uninsured motorists; insufficient liability limits; coverage
§ 113N Medical examination of applicant for motor vehicle liability policy or bond prohibited
§ 113O Fire and theft or comprehensive coverage; payments for loss or damage to insured vehicle; statements to police; claim forms; actions for nonpayment
§ 113P Appeals from application of safe driver insurance plan
§ 113Q Inclusion of automobile club memberships in automobile insurance policy prohibited
§ 113R Interest on refunds of overpayments or overdue payments of motor vehicle liability insurance premiums
§ 113S Inspection of vehicles prior to provision of coverage
§ 113T Repair shop coverage
§ 113U Antique motor car policies
§ 113V Overutilization of practice or fraud involving automobile insurance claims; medical licensing boards; investigations
§ 113W Hospitality mutual insurance company; conversion of liquor legal liability joint underwriting association; authorized transactions; board of directors
§ 113X Motor vehicle glass repair covered by motor vehicle liability insurance; prohibited acts by insurers; penalty
§ 114 Title insurance companies; applicability of chapter
§ 116 Title guarantee funds
§ 116A Foreign title insurance companies; applicability of chapter
§ 117 Steam boiler insurance; term of policy
§ 117A Marine and sprinkler leakage insurance; combination policies; contents; commissioner’s approval
§ 117B Credit insurance; combination policies; contents; commissioner’s approval
§ 117C Determination of premium rates with respect to credit life insurance and credit accident and health insurance; filing; reports
§ 117D Credit involuntary unemployment insurance
§ 118 Life company defined
§ 119 Domestic life companies; power to make pure endowment contracts and grant annuities.
§ 119A Proceeds of annuity contract or policy of life insurance retained by life company; alienation, assignment, etc. by beneficiary
§ 119B Refund of prepaid individual life insurance premiums upon death of insured
§ 119C Interest on proceeds payable under policy of individual life insurance upon death of insured
§ 120 Discrimination by life company in amount or payment of premiums or rate charged, in benefits payable, or in any other term of contract prohibited
§ 120A Refusal to issue policy of individual life insurance for reason of mental retardation prohibited
§ 120B Refusal to issue policy of individual life insurance for reason of blindness prohibited
§ 120C Discrimination in cancellation, issuance, renewal or rates of policies on the lives of persons for reason of exposure to diethylstilbestrol or DES compounds prohibited
§ 120D Discrimination in cancellation, issuance, renewal or rates of policies of life insurance or endowment insurance for reason that individual has been victim of abuse prohibited
§ 120E Unfair discrimination based on results of genetic test or the provision of genetic information prohibited; genetic tests as condition to issuance or renewal of policy on the life of person prohibited
§ 120F Discrimination in terms or conditions of group or individual annuity, pure endowment contract or certificate prohibited
§ 121 Sale or purchase of securities in connection with contract of life or endowment insurance or annuity prohibited
§ 122 Discrimination against colored persons of African descent in conditions and premium charged for policies of life insurance prohibited
§ 122A Discrimination based upon lawful travel experiences or plans prohibited; life insurance policies
§ 123 Application for issuance of policy of life or endowment insurance; change of designation of beneficiary
§ 123A Insurable interest of corporation in the life or physical or mental ability of corporate director, officer, employee, etc.
§ 124 Claims under policy issued by life company; binding effect of statements in application for life insurance policy issued without medical examination
§ 125 Beneficiaries of policy of life or endowment insurance; entitlement to proceeds against creditors of person effecting policy
§ 126 Policy of life or endowment insurance payable to or for the benefit of a married woman
§ 127 False or fraudulent statements in application for life or endowment insurance; penalties
§ 128 Age of competency to contract for life or endowment insurance
§ 129 Plain description upon face of policy of life or endowment insurance or annuity required
§ 130 Policies of life or endowment purporting to be issued or to take effect more than six months before date of application; annuities or pure endowments contracts purporting to be issued or to take effect at higher age
§ 131 Endorsement or attachment of application as a part of policy of life or endowment insurance
§ 132 Policies of life or endowment insurance; form and content; commissioner’s approval
§ 132A Group annuity contract; definitions
§ 132A1/2 Requirements for other group annuity contracts
§ 132B Group annuity contract; issuance; form; commissioner’s approval; review; contents
§ 132C Group annuity contract; exemption from process; exception
§ 132D Group annuity contracts; members
§ 132E Group annuity contract; construction
§ 132F Pension contracts; funding agreements; separate accounts
§ 132G Variable annuity contracts; issuance; contents; separate investment accounts; reserve liability; approval; rules and regulations
§ 132H Variable annuity contracts; investment of assets; limitations; rules and regulations
§ 132I Funding agreements
§ 133 Group life insurance defined
§ 133A Requirements for other group life insurance policies
§ 134 Group life policies; commissioner’s approval; contents
§ 134A Conversion from group life insurance policy to another type of life policy; right of certificate-holder; notice
§ 134C Group life policies; assignment of incidents of ownership
§ 135 Group life policies; exemption from attachment; exception
§ 136 Group life policies; exemption from loan provision
§ 137 Group policies; members
§ 138 Application of chapter to Secs. 133 to 137
§ 138A Group life policies; pay-roll deductions of state and local employees
§ 139 Conversion, alteration or exchange of life or endowment insurance or annuity contracts
§ 140 Annual dividends on policies of life or endowment insurance
§ 141 Safety fund
§ 142 Loan from life company upon policy of life insurance; interest rate; loan value; definitions
§ 143 Applicability of forfeiture laws to policies of life insurance and deferred annuity contracts
§ 144 Default in payment of premium on policy of life insurance; surrender of policy for cash value; taking of paid-up nonforfeiture benefit
§ 144 1/2 Defaulting or surrendering policyholders; minimum requirements; construction with Sec. 144
§ 144A1/2 Annuity contracts; required provisions
§ 145 Cash surrender value of policies of industrial life insurance
§ 146 Policies of industrial life insurance; applicability of Sec. 144
§ 146A Default in payment of premium on policy of industrial life insurance; notice of non-forfeiture benefit
§ 146B Massachusetts Life and Health Insurance Guaranty Association Law
§ 149 Participating and nonparticipating policies of life, endowment and accident and sickness insurance and annuity and pure endowment contracts
§ 149A Unclaimed funds; definitions
§ 149B Unclaimed funds; reports by companies
§ 149C Unclaimed funds; payment to state treasurer
§ 149D Unclaimed funds; custody; claims; proceedings; judgment and satisfaction
§ 149E Examination of records of life company by state treasurer
§ 149M Definitions applicable to Secs. 149M to 149X
§ 149N Service contracts; duties of provider
§ 149O Reimbursement of covered sums or performance of service pursuant to reimbursement insurance policy
§ 149P Form and content of service contracts
§ 149Q Prohibited language in provider name; false or misleading statements; purchase of service contract as condition of loan or sale of property prohibited
§ 149R Maintenance and retention of accounts, books and records
§ 149S Termination of reimbursement insurance policy
§ 149T Receipt of premiums for reimbursement insurance policy; insurer right to indemnification or subrogation
§ 149U Enforcement of Secs. 149M to 149W
§ 149V Exemptions from Secs. 149M to 149W
§ 149W Rules and regulations
§ 149X Retention and use of collected registration fees
§ 150 Admission of foreign companies
§ 151 Conditions of admission of foreign companies
§ 152 Kinds of business which may be transacted by foreign companies
§ 152A Foreign mutual fire companies; non-assessable policies; issuance; conditions
§ 153 Foreign life companies; conditions of admission
§ 154 Service of process on foreign company; duty of commissioner; fees
§ 155 Companies formed under laws of any government or state other than the United States or one of the United States; conditions of admission
§ 156 Companies formed under laws of any government or state other than the United States or one of the United States; appointment of trustees
§ 156A Cessation of issuance of policies or making of contracts by foreign company upon revocation or suspension of license or failure to maintain required amounts of capital or assets
§ 158 Effect of war between United States and foreign country upon policies and contracts issued by company organized under laws of such foreign company
§ 160 Persons aiding foreign company not lawfully admitted to issue policies or contracts; penalty; reinsurance or transfer of primary obligation to meet actual risk assumed under policy to unlicensed company or company with insufficient net cash assets prohibi
§ 160A Advertisement for or on behalf of unlicensed foreign company or fraternal benefit society prohibited
§ 160B Publication of notice by commissioner of unlicensed foreign company or fraternal benefit society
§ 160C Automobile insurance; company as agent for insurers doing business in Mexico; separate accounts; payment of percentage of gross premiums
§ 160D Agent or broker securing automobile coverage with Mexican companies; separate accounts; payment of percentage of gross premiums
§ 161A Definitions applicable to Secs. 161A to 161E
§ 161B Domestication of United States branch of alien insurer; domestication agreement
§ 161C Approval of domestication agreement by alien and domestic insurer
§ 161D Approval of domestication agreement by commissioner
§ 161E Domestication of United States branch of alien insurer effective upon filing of instrument of transfer and assumption
§ 162 Agent, broker and adjuster defined; on-premises and off-premise solicitation of negotiation of policy of insurance
§ 162B Agents and brokers; power to accept installment premiums
§ 162C Direct billing; mandatory agreements prohibited
§ 162D Expense premium commissions; payment to insurance agents; additional compensation
§ 162E Motor vehicle insurance made by insurer pursuant to American agency system; insurer commission arrangements
§ 162F Property or casualty insurance information; proprietary rights of agents and brokers
§ 162G Licensing of insurance producers; Secs. 162H through 162X govern qualifications and procedures
§ 162H Definitions applicable to Secs. 162G to 162X
§ 162I License required to sell, solicit or negotiate insurance
§ 162J Insurance producer license; persons not required to be licensed
§ 162K Insurance producer license; written examination
§ 162L Insurance producer license; application; requirements for approval
§ 162M Insurance producer license; qualification; lines of authority
§ 162N Insurance producer license; nonresident producer licenses
§ 162O Insurance producer license; application by individual licensed as an insurance producer in another state
§ 162P Insurance producer doing business under assumed name; notice
§ 162Q Insurance producer license; temporary license
§ 162R Insurance producer license; suspension, revocation, refusal to issue or renew or levying of civil penalties
§ 162S Insurance producers acting as agents of insurers; appointment procedures
§ 162T Insurer’s termination of appointment, contract, etc. with producer; procedures
§ 162U Insurance producer license; waiver of requirements for nonresident license applicant
§ 162V Reporting of administrative action taken against insurance producer; reporting of criminal prosecution of insurance producer
§ 162W Promulgation of regulations relating to insurance producers
§ 162X Severability of Secs. 162G to 162X
§ 162Y Portable electronics insurance
§ 162Z Travel insurance; limited lines travel insurance; license
§ 163 Agents; licensing; cancellation, modification, revocation, or expiration of contract; referees; decision; review
§ 164 Collectors of premiums
§ 164A Lapsed industrial life policies; effect on agents’ commissions
§ 166B Revocation of license; disposition of interest as proprietor, employee, etc. of insurance producer; appointment of receiver; injunction
§ 167A Insurance producer license; fee exemption for certain persons
§ 168 Special insurance brokers; licensing; procurement of insurance in unauthorized companies
§ 168A Procurement by special broker of insurance from an eligible alien unauthorized insurer
§ 169 Effect of payment to agent or broker
§ 170 Agent or broker; procurement of payment of premium by fraud; penalty
§ 171 Illegal insurance contracts; liability of agent
§ 172 Adjusters of fire losses; licensing; penalty; examination for applicants
§ 172A Voluntary association licenses
§ 173 Partnership licenses
§ 174 Corporation licenses
§ 174A Hearings, revocation or suspension of licenses; notices
§ 174B Revoked licenses; surrender; renewal certificates; penalty
§ 174F Business Transacted With Broker–Controlled Insurer Act
§ 174G Definitions applicable to Secs. 174F to 174K
§ 174H Applicability of Secs. 174F to 174K
§ 174I Written contract between controlling broker and insurer required
§ 174J Notice to prospective insured disclosing broker-controlled insurer relationships
§ 174K Violations of Secs. 174F to 174K; remedies
§ 175 Representation or advertisement as agent, broker or adjuster without being duly licensed; carrying on of business in name other than that stated in license
§ 176 Larceny by agent or broker
§ 176A Refund or credit of return premiums on cancelled motor vehicle policies; penalty
§ 177 Unlicensed persons; compensation; penalty
§ 177A Insurance adviser defined
§ 177B Insurance adviser license
§ 177C Contracts or agreements with insurance adviser; enforceability
§ 177D Statement and receipt from insurance adviser specifying advice given and fee paid
§ 177E Continuing educational requirements
§ 177F Managing General Agents Act
§ 177G Definitions applicable to Secs. 177F to 177L
§ 177H Managing general agent; licensure and errors and omissions coverage required
§ 177I Contracts between managing general agent and insurer; required provisions
§ 177J Independent financial examination of managing general agent; actuary opinion of loss reserves; review of processing operations; notification to commissioner of appointment or termination
§ 177K Acts of managing general agent considered acts of insurer; examination by commissioner
§ 177L Administrative action against managing general agent; authority of commissioner; penalties
§ 177M Reinsurance Intermediary Act
§ 177N Definitions applicable to Secs. 177M to 177W
§ 177O Reinsurance intermediary brokers; bonds; licenses; applications
§ 177P Contracts between reinsurance intermediary broker and insurer; required provisions
§ 177Q Maintenance of records by reinsurance intermediary broker
§ 177R Reinsurance intermediary broker license required; employment restrictions; annual financial statements
§ 177S Contracts between reinsurance intermediary manager and reinsurer; required provisions
§ 177T Prohibited acts by reinsurance intermediary manager
§ 177U Reinsurance intermediary manager license required; annual financial statements; actuary opinion of loss reserves; notice of termination; prohibited appointments
§ 177V Examination of reinsurance intermediary by commissioner
§ 177W Administrative action against reinsurance intermediary; authority of commissioner; penalties
§ 178 Receiver of insolvent company; compensation and accounts
§ 179 Receiver of insolvent company; appointment of commissioner, deputy or assistant as receiver
§ 180 Receiver of insolvent company; examination of accounts and transactions
§ 180A Definitions applicable to Secs. 180A to 180L1/2
§ 180B Domestic companies; rehabilitation proceedings
§ 180C Domestic companies; liquidation proceedings; approval of proposal to distribute; notice of application
§ 180D Domestic companies; duty of receivers to give notice of appointment
§ 180E Ancillary receiver of foreign insurer
§ 180F Proof of claims of non-residents; liquidation proceedings; priority of distribution
§ 180G Proof of claims; liquidation proceedings; cause of action against policyholder
§ 180H Contingent claims; distribution of assets of insolvent insurer
§ 180I Liquidation proceedings commenced in reciprocal state; proof of claims
§ 180J Special deposit claims; liquidation proceedings; priority
§ 180K Secured claims; liquidation proceedings
§ 180L Severability of Secs. 180A to 180K
§ 180L1/2 Termination, liquidation, etc., and rights under security agreements relating to netting agreements or qualified financial contracts; transfer of netting agreement or qualified financial contracts
§ 180M Definitions applicable to this section and Secs. 180N to 180Q
§ 180N Adoption of bylaws reasonably necessary for operation of company during national emergency
§ 180O Provisions becoming effective upon occurrence of national emergency in absence of bylaws adopted pursuant to Sec. 180N
§ 180P Succession of officers during national emergency
§ 180Q Location of home office or principal place of business of company in the event of national emergency
§ 181 Misrepresentations by insurer; penalty
§ 182 Special inducements, etc.; rebates; loans in connection with student loan insurance programs
§ 183 Rebates; acceptance; prohibition
§ 184 Application of Secs. 182 and 183
§ 185 Deposits by companies in compliance with state laws to be held by state treasurer in trust
§ 186 Misrepresentation or warranty by insured; effect
§ 186A Delivery of policy; presumptions
§ 186B Effect of lack of sworn statement of loss; laws applicable
§ 187 Foreign companies; contents of policies
§ 187A Actions on policies; limitation
§ 187B Cancellation of policy; failure to return premium; penalties
§ 187C Cancellation of policy; procedure
§ 187D Cancellation of policy; non-payment of premium
§ 187E Small claims; payments to heirs of decedents
§ 187F Cancellation of policies during strike of insurance agents
§ 187G Lapse of certain life insurance policies during strike of agents; reinstatement
§ 187H Owner’s right to cancel policy; notice; refund of prepaid premiums
§ 188 Unlawful use of proxy; penalty
§ 189 Policies in violation of this chapter; penalty
§ 190A Definitions applicable to this section and Secs. 190B and 190C
§ 190B Mass marketed life or health insurance; reasonableness of charges; findings; orders; review
§ 190C Mass marketed life or health insurance; nonresident insurers; compliance with state laws
§ 191 Commissioner; power to require submission of policies and circulars for inspection; penalty
§ 191A Property damage to insured’s motor vehicle; notice of losses; arbitration clause
§ 192 Riders and endorsements; commissioner’s approval
§ 192A Loose leaf policies; filing and approval
§ 193 Policies issued contrary to this chapter; validity
§ 193A Jurisdiction of superior court to restrain violations of chapter and enforce compliance of provisions thereof
§ 193B Motor vehicle insurance; instalment payments
§ 193B1/2 Motor vehicle insurance; interest charges on installment payments
§ 193C Domestic companies; interlocking directorates; regulations; procedure
§ 193D Domestic companies; power to acquire stock of other companies; regulations
§ 193E Coercion in the placing of insurance on real or personal property prohibited; fines; exceptions
§ 193F Policy forms; filing with commissioner; approval
§ 193G Policy forms; disapproval; resubmission for approval
§ 193H Policy forms; withdrawal of approval; notice and hearing; review
§ 193I Disclosure of investments of officers, directors and principal stockholders
§ 193J Solicitation of proxies
§ 193K Professional services; provisions for payment; discrimination
§ 193P Fire insurance policies; nonrenewal notice provision; requisites of notice
§ 193R Group marketing plans for automobile and homeowner insurance; definitions; rules and regulations; rates; payroll deductions
§ 193T Discrimination based on blindness, intellectual disability, or physical impairment
§ 193U Discrimination based on specialty practiced; risk classification; definitions
§ 194 General penalty
§ 195 Insurance companies writing fire and multiple peril policies required to contribute to costs of training firefighting personnel, enforcement of certain fire code regulations, fire education programs, equipment and facility improvements
§ 196 Payment under liquor liability insurance; notice to Attorney General
§ 204 Regulations governing replacement of life insurance policies and annuities; promulgation
§ 205 Policies providing supplemental coverage to medicare; approval by commissioner; employers or trade unions exception; regulations
§ 206 Definitions applicable to Secs. 206 to 206D
§ 206A Domestic insurers; investment in capital stock of subsidiaries
§ 206B Merger or acquisition of control; statement filed with commissioner; hearing; approval; violations
§ 206C Registration statements; transactions requiring commissioner’s approval; determination of reasonable surplus; confidentiality of information; group-wide supervisor for internationally active insurance group
§ 206D Violations of Secs. 206 to 206D or rule issued thereunder; injunctive relief; voting of improperly acquired securities; penalties
§ 207 Acquisition of stock of subsidiary insurer; approval of plan by commissioner; objections of shareholders
§ 208 Merger of insurance holding company system into domestic insurance subsidiary
§ 209 Commissioner’s issuance of licenses to banks or credit unions to act as insurance producers
§ 210 Procedure for resolution of consumer complaints relative to banks or credit unions acting as insurance agents
§ 211 Information relating to insurance activities of banks or credit unions furnished to federal agencies
§ 212 Definitions applicable to Secs. 212 to 223E
§ 213 License requirement for life settlement providers and life settlement brokers
§ 214 Suspension, revocation or refusal of renewal of life settlement provider or life settlement broker license
§ 215 Approval of life settlement contract form and disclosure statement form
§ 216 Annual statement of life settlement provider
§ 217 Disclosure by life settlement provider, broker, insurance company, etc., of individual identification data of insured
§ 218 Examination of business and affairs of life settlement provider, broker or applicant
§ 219 Advertising by life settlement broker or provider
§ 220 Required disclosures by life settlement providers and brokers
§ 221 Use of policy as collateral in premium finance loan
§ 222 General rules relating to life settlement contracts
§ 223 Conflict of laws
§ 223A Fraudulent life settlement acts
§ 223B Control, prevention and reporting of fraud relating to life settlement contracts
§ 223C Remedies for violations of Secs. 213 to 223E
§ 223D Penalties
§ 223E Violation of Secs. 213 to 223E deemed unfair trade practice
§ 223F Authority of commissioner to promulgate regulations
§ 224 Large commercial policy holders; definitions; commercial risks; records examination
§ 225 Disclosure notice in policy issued pursuant to commercial risks provisions of Sec. 224; large commercial policy holders
§ 226 Pharmacy audits; standards for the conduct of audits of records; appeals
§ 227 Statement of actuarial opinion and actuarial opinion summary
§ 228 Transportation network drivers; insurance requirements
§ 229 Self-service storage insurance
§ 230 Applicability of chapter 176W to insurers governed by this chapter
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Terms Used In Massachusetts General Laws > Chapter 175 - Insurance

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Allegation: something that someone says happened.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • annuity contract: when used in this chapter, except in sections one hundred and twenty-nine, one hundred and thirty and one hundred and thirty-two, shall include a group annuity contract unless the context otherwise requires or a different meaning is specifically prescribed. See Massachusetts General Laws ch. 175 sec. 132E
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dependent: A person dependent for support upon another.
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Donor: The person who makes a gift.
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Interests: includes any form of membership in a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Other entity: includes a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Probate: Proving a will
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Right of offset: Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off. Source: OCC
  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
  • Verdict: The decision of a petit jury or a judge.
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.