Section 8D. On or before October first in any fiscal year, the commissioner of insurance shall certify to the commissioner of corporations and taxation the amount of assessment to be made and the name and address of each company against whom such assessment is to be made. Such assessment shall be collected by the commissioner of corporations and taxation in accordance with applicable provisions of chapter sixty-three; provided, however, that each company shall pay the amount assessed against it within thirty days from the receipt of notice of assessment from the commissioner of corporations and taxation. The amount so collected shall be credited to the funds to which the appropriations for the division of insurance are charged, and in the same proportion as such appropriations are charged.

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Terms Used In Massachusetts General Laws ch. 26 sec. 8D

  • 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.