§ 1 Definitions
§ 2 Application of chapter
§ 3 Massachusetts Insurers Insolvency Fund
§ 4 Board of directors
§ 5 Powers and duties of Fund
§ 6 Plan of operation
§ 7 Powers and duties of commissioner
§ 8 Recovery of claims from Fund; assignment of policy rights; cooperation; liability of insolvent insurer’s receiver, et al.; settlements; periodic statements and estimates of claims
§ 9 Exhaustion of policy insolvency provisions on covered claims; reduction of recovery on policy from amount payable under this chapter; multiple funds
§ 10 Examination and regulation by commissioner
§ 11 Exemption from fees and taxes
§ 12 Return of excess assets to insurers in proportion to contributions to Fund
§ 13 Rates and premiums for policies to which this chapter applies; sufficiency to recoup amounts paid to Fund
§ 14 Liability for reports or recommendations by Fund
§ 15 Stay of pending court proceedings involving insolvent insurer as party; defense by Fund
§ 16 Termination of Fund by order of commissioner; federal statutory plan on insurer insolvency; distribution of assets
§ 17 High net worth insureds; payment of claims; financial information
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Terms Used In Massachusetts General Laws > Chapter 175D - Massachusetts Insurers Insolvency Fund

  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • 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
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • 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.
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • Personal property: All property that is not real property.