Chapter 175

Section 47WW. Any policy, contract, agreement, plan or certificate of insurance issued, delivered or renewed within the commonwealth, which is considered creditable coverage under section 1 of chapter 111M, shall provide coverage for postpartum depression and major depressive dis…

Section 47X. An individual policy of accident and sickness insurance issued pursuant to section 108 that provides hospital expense and surgical expense insurance and any group blanket policy of accident and sickness insurance issued pursuant to section 110 that provides hospital …

Section 47XX. (a) Any policy, contract, agreement, plan or certificate of insurance issued, delivered or renewed within the commonwealth, which is considered creditable coverage under section 1 of chapter 111M, shall provide coverage for the provision of medically necessary paste…

Section 47Y. (a) No individual policy of accident and sickness insurance issued or renewed pursuant to section 110 shall restrict or discontinue coverage for medically necessary hypodermic syringes or needles, notwithstanding section 27 of chapter 94C. The term ''medical necessit…

Section 47YY. An individual policy of accident and sickness insurance issued pursuant to section 108 that provides hospital expense and surgical expense insurance or a group blanket or general policy of accident and sickness insurance issued pursuant to section 110 that provides …

Section 47Z. (a) Any blanket or general policy of insurance, except a blanket or general policy of insurance which provides supplemental coverage to Medicare or other governmental programs, described in subdivision (A), (C) or (D) of section 110 which provides hospital expense an…

Section 47ZZ. (a) As used in this section, the following words shall, unless the context clearly requires otherwise, have the following meanings:— ''Cost sharing'', a deductible, coinsurance, copayment and any maximum limitation on the application of such a deductible, coinsuranc…

Section 48. As used in this section, the following words shall, unless the context clearly requires otherwise, have the following meanings:— ''Minimum capital'', the common capital stock that must constantly be maintained by a stock insurance company as required by this section. …

Section 48A. Ten or more persons, residents of this commonwealth, may form a mutual company, (a) to transact the business set forth in any one of the clauses of section forty-seven, except the eleventh, fourteenth, fifteenth or seventeenth; (b) to transact the business set forth …

Section 49. The company shall be formed in the manner described in and be subject to sections eleven, twelve and thirteen of chapter one hundred and fifty-six B, except as otherwise expressly provided in this chapter. The name of the corporation shall be subject to approval by th…

Section 49A. Any insurer which is organized under the laws of any other state and is admitted to do business in the commonwealth for the purpose of writing insurance may become a domestic insurer by complying with all of the requirements of law relative to the organization and li…

Section 4A. As of July first, nineteen hundred and ninety-six, and annually thereafter, each admitted insurer writing homeowners insurance in the commonwealth, in accordance with the provisions of section four, and the joint underwriting association, formed pursuant to the provis…

Section 4B. The commissioner, each year, shall direct and cause the twenty-five admitted insurers with the largest homeowners market share in the commonwealth, based upon statewide written premium and the joint underwriting association, formed pursuant to the provisions of chapte…

Section 4C. No insurer licensed to write and engaged in the writing of homeowners insurance in this commonwealth nor the joint underwriting association, formed pursuant to the provisions of chapter one hundred and seventy-five C, shall take into consideration when deciding whethe…

Section 4D. (a) As used in this section, unless the context clearly requires otherwise, ''residential property'' shall mean a 1 to 4–unit dwelling used for living or sleeping. (b) The joint underwriting association, formed pursuant to chapter 175C, and each insurer licensed to wr…

Section 4E. No insurer engaged in writing private passenger motor vehicle insurance in the commonwealth shall, in connection with underwriting of said insurance, refuse to issue or renew a private passenger motor vehicle insurance policy or bond based on the ownership or operatio…

Section 4F. (a) As used in this section, the terms ''hosting platform'', ''operator'' and ''short-term rental'' shall have the same meanings as under section 1 of chapter 64G unless the context clearly requires otherwise. (b) An operator shall maintain liability insurance of not …

Section 4G. (a) An insurer that utilizes an applicant's Massachusetts driving history as a rating or underwriting factor for private passenger motor vehicle insurance in the commonwealth, a licensed insurance producer or third-party representative shall verify the applicant's Mas…

Section 5. If the commissioner is satisfied, upon examination or other evidence submitted to him, that any foreign company is insolvent or is in an unsound financial condition, or that its business policies or methods are unsound or improper, or that its condition or management i…

Section 50. A stock company may amend and restate its articles of organization as provided in sections seventy, seventy-one and seventy-four of chapter one hundred and fifty-six B, subject to the provisions of sections forty-eight and seventy-one of this chapter. A stock company …

Section 50A. A mutual company, by a majority vote of those members present and voting, at a meeting duly called for the purpose, may authorize an amendment of its articles of organization to change its corporate name. A mutual company, by a two thirds vote of those members presen…

Section 50B. Articles of amendment or restatement of articles of organization by any stock or mutual company signed and sworn to by the president and secretary and a majority of the directors, setting forth such amendment or change and the due adoption thereof, shall, within thir…

Section 51. No domestic stock company shall transact any business other than that specified in its charter or agreement of association, except that it may transact the kinds of business specified below by reference to the several clauses of section forty-seven, as follows: (a) Th…

Section 54. No domestic mutual company shall transact any other kind of business than is specified in its charter or agreement of association, except that it may in addition transact the kinds of business specified below by reference to the several clauses of section forty-seven,…

Section 54A. Any domestic company authorized to transact any of the kinds of business specified in the second clause of section forty-seven may, outside the commonwealth, make contracts of insurance insuring property of any kind or description against any and all risks of loss or…

Section 54B. Any company authorized to transact the kinds of business specified in any one of the first, second, fourth, sixth or twelfth clauses of section forty-seven may, except with respect to policies of life and endowment insurance and contracts for the payment of annuities…

Section 54C. Any company authorized to transact the kinds of business specified in the first or second clause, or in subdivision (b) of the sixth clause, of section forty-seven may insure against any loss of or damage to, or loss of use of, or mechanical failure or mechanical bre…

Section 54D. Any company authorized to transact the kinds of business specified in any of the first, second, fourth, sixth or twelfth clauses of section forty-seven may insure, by means of an all-risk type of policy commonly known as the personal property floater, against any and…

Section 54E. Any company authorized to insure against loss or damage by fire, which has been actively engaged in the fire insurance business in one or more states of the United States continuously for ten years, or less than ten years with the approval of the commissioner, or who…

Section 54F. Any company authorized to insure against loss or damage by fire, which has been actively engaged in the fire insurance business in one or more states of the United States continuously for ten years, or less than ten years with the approval of the commissioner, or who…

Section 54G. Any company authorized to transact the kinds of business specified in the sixteenth clause of section forty-seven may reinsure either by itself or together with other insurers through pooling arrangements or otherwise for the purposes of spreading the insurance risk,…

Section 55. Mutual companies organized prior to April sixth, nineteen hundred and eleven, to transact employers' liability insurance may continue such business under the sixth clause of section forty-seven. They may also transact all the kinds of business specified in the said si…

Section 56. Any domestic corporation subject to chapter one hundred and seventy-six and confining its membership to a particular order or fraternity may by a two thirds vote of its policy or certificate holders voting thereon adopt this section at a meeting called to consider the…

Section 57. The board of directors of each domestic stock company shall consist of not less than five members, and not less than four shall constitute a quorum.

Section 58. The board of directors shall annually choose by ballot a president, who shall be a member of the board, a secretary, and, if the by-laws so provide, a treasurer, who may also be the president or secretary, and such other officers as the by-laws may provide. They shall…

Section 59. The president, or in his absence the vice president, if any, shall preside at all meetings of the directors or stockholders. In the absence of both said officers a temporary president may be chosen. Notwithstanding the foregoing provisions of this paragraph, a company…

Section 6. If it appears to the commissioner that the capital of a domestic stock company other than a life company is impaired to the extent of one quarter or more on the basis fixed by sections ten to twelve, inclusive, but that the company can with safety to the public and its…

Section 60. The secretary, the treasurer, if any, and each assistant secretary, and each assistant treasurer of such a company shall, before entering upon his duties, give a bond payable to the company conditioned upon the faithful performance of his duties. The bond shall be exe…

Section 62. The directors or other officers of such a company making or authorizing an investment or loan in violation of sections sixty-three, sixty-five or sixty-six shall be personally liable to the stockholders for any loss caused thereby. If they allow to be insured on a sin…

Section 63. The capital stock and, in the case of a domestic stock life company, the net cash surplus required by section forty-eight shall be paid in cash within twelve months after the date of the charter or certificate of organization, but no certificates of full shares and no…

Section 63A. (1) As used in this section the following words shall, unless the context clearly requires otherwise, have the following meaning:— ''Medium grade obligation'', obligations which are rated three by the Securities Valuation Office of the National Association of Insuran…

Section 64. All investments and deposits of the funds of any such company shall be made either in its corporate name or in the name of a nominee appointed for the purpose of facilitating security trading, money management and certificate delivery; and no director or officer shall…

Section 65. No domestic company shall, except in effecting the sale of real estate owned by it, and then only with the approval of the commissioner, invest any of its funds in loans upon mortgages except upon the conditions expressed in paragraph 7, 7A or 7B of section sixty-thre…

Section 66. Except as otherwise provided, no domestic life company shall invest any of its funds in any unincorporated business or enterprise, or in the stocks or evidence of indebtedness of any corporation the owners or holders of which stock or evidence of indebtedness may in a…

Section 66A. Any domestic life company may purchase, lease or acquire by gift or otherwise and hold without any limitation of time any real property, or any interest therein, in any state of the United States in which it is authorized to transact business, in Puerto Rico if autho…

Section 66B. Any domestic life company may purchase, lease, acquire by gift or otherwise and hold without any limitation of time any real property, or any interest therein, in any state of the United States in which it is authorized to transact business, in Puerto Rico, if author…