Massachusetts General Laws ch. 175L sec. 1 – Definitions
Section 1. As used in this chapter the following words shall have the following meanings, unless the context clearly requires otherwise:
Terms Used In Massachusetts General Laws ch. 175L sec. 1
- 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.
- 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.
- 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.
”Certificate of insurance”, a document or instrument, regardless of how titled or described, that is prepared or issued by an insurer or insurance producer as evidence of property or casualty insurance coverage. The term shall not include a policy of insurance, insurance binder, policy endorsement or automobile insurance identification or information card.
”Commissioner”, the commissioner of insurance.
”Insurance producer”, a person required to be licensed under the laws of the commonwealth to sell, solicit or negotiate property casualty insurance.
”Insurer”, any organization that issues property or casualty insurance.
”Person”, any individual, partnership, corporation, association or other legal entity, including any government, governmental subdivision or agency.