Massachusetts Statutes

TITLE XXII CORPORATIONS

CHAPTER 155 GENERAL PROVISIONS RELATIVE TO CORPORATIONS
- Section 1 Application of chapter; secretary defined
- Section 2 Examination of certificates and reports by state secretary; records; reports
- Section 2A Repealed, 1971, 819, Sec. 2
- Section 2B Clinics, hospitals, rest homes, etc., approval of articles of organization and amendments
- Section 3 Acts of incorporation and corporate organizations subject to legislative action
- Section 3A Public service corporations; deposit of funds
- Section 4 Public service corporations; misleading use of names or titles
- Section 5 Violations of Sec. 4; investigation; penalties; injunction
- Section 5A Allowances for depreciation ordered set aside by department of utilities or department of telecommunications and cable
- Section 6 General powers
- Section 7 Content of by-laws
- Section 8 Conveyance of land
- Section 9 Name of corporation; exception
- Section 9A Reservation of corporate name
- Section 10 Change of name
- Section 11 Unauthorized business; restraint by injunction
- Section 12 Free hospital beds for employees of corporation; appropriation
- Section 12A Contributions to communities
- Section 12B Reciprocal insurance contracts; exchanges
- Section 12C Contributions for charitable, scientific or educational purposes
- Section 13 Chartered corporations; time for organization; commencement of corporate existence
- Section 14 First meeting; holders of privileges prior to organization
- Section 15 Failure, refusal or neglect to call meeting; alternative method
- Section 16 Par value of common and preferred shares
- Section 17 Issue at less than par
- Section 18 Preferred stock; amount; preferences and voting powers; exceptions
- Section 19 Preferred stock; content of certificate
- Section 20 Increase of capital stock; notice of vote; disposition of new shares
- Section 21 Voting rights, etc. of persons in representative or fiduciary capacity
- Section 22 Records available for inspection by shareholders; record date of right to vote or to other rights
CHAPTER 156 BUSINESS CORPORATIONS
- Section 1 Definitions
- Section 2 Scope of chapter
- Section 3 Corporations not within application of chapter; adoption of chapter
- Section 4 Powers
- Section 5 Holding stock in other corporations; prohibitions
- Section 6 Agreement of association; contents
- Section 7 Corporations dealing with real estate; duration
- Section 8 First meeting; notice; service; waiver of notice
- Section 9 Organization; selection of temporary clerk; adoption of by-laws; election of officers
- Section 10 Oath to articles by directors; liability to stockholders
- Section 11 Approval by secretary of corporation documents; filing of articles
- Section 12 Certificate of incorporation
- Section 13 Scope of by-laws
- Section 14 Creation and issuance of shares
- Section 15 Consideration for capital stock; instalment payments
- Section 16 Issuance of unissued balance of authorized capital stock; approval; filing
- Section 17 Validation of issue not submitted for approval
- Section 18 Payment of subscriptions
- Section 19 Subscriptions in default; sale of rights to subscribe
- Section 20 Instalments in default; sale of rights to shares
- Section 21 Management of corporation
- Section 22 Election or appointment of officers; terms; qualifications
CHAPTER 156A PROFESSIONAL CORPORATIONS
- Section 1 Short title
- Section 2 Definitions
- Section 3 Professional services provided
- Section 4 Applicable provisions; powers and duties
- Section 5 Rendition of professional services; construction of chapter
- Section 6 Shareholder liability; professional relationship; privileged communications
- Section 7 Organization; content of articles of organization
- Section 8 Corporate name
- Section 9 Licensing of directors and officers
- Section 10 Issue or transfer of shares, or rights or options to purchase
- Section 11 Proxies; voting trusts
- Section 12 Purchase or redemption of shares by corporation; contingencies; time
- Section 13 Liquidation, dissolution or merger of corporation
- Section 14 Merger into or consolidation with business corporation
- Section 15 Dissolution
- Section 16 Merger or consolidation with another corporation
- Section 17 Foreign professional corporations; registration
- Section 18 Annual report
- Section 19 Regulating boards; rules; authority or duties
CHAPTER 156B CERTAIN BUSINESS CORPORATIONS
- Section 1 Short title
- Section 2 Definitions; corporation; articles of organization
- Section 3 Application of chapter
- Section 4 Rights and liabilities of existing corporations, directors, officers and stockholders
- Section 5 Adoption of chapter by certain corporations created by special act; liability for debts
- Section 6 State secretary; duties
- Section 6A Correction of inaccurate corporate records; filing
- Section 7 Change of law; effect
- Section 8 Voting by stockholders; effect of articles of organization or by-laws
- Section 9 Corporate powers; exceptions
- Section 9A Partnership
- Section 9B Contracts of guarantee and suretyship
- Section 10 Unauthorized exercise of franchise or privilege or transaction of business; injunction
- Section 11 Name
- Section 12 First meeting; by-laws; officers; consent to action; articles of organization
- Section 13 Articles of organization; contents
- Section 14 Change of principal office
- Section 15 Limitation on stock holdings in certain other corporations
- Section 16 Scope of by-laws
- Section 17 Power to make, amend and repeal by-laws
- Section 18 Consideration for issuance of stock
- Section 19 Payment for stock; cash or instalments; record; transfer
- Section 20 Pre-emptive rights
- Section 21 Unissued shares; authority to issue; consideration
- Section 21A Reacquired shares; restoration to unissued share status
- Section 22 Terms of payment; demand; notice of payment due
CHAPTER 156C LIMITED LIABILITY COMPANY ACT
- Section 1 Short title
- Section 2 Definitions
- Section 3 Name of limited liability company
- Section 4 Reservation of exclusive right to name
- Section 5 Office and agent for service of process in commonwealth
- Section 5A Certificate of change of resident agent or street address of resident agent; change of address of LLC business office; resignation
- Section 6 Powers and privileges of limited liability company; information to be provided on certificate of organization or application for registration
- Section 7 Transaction of business between member or manager and limited liability company
- Section 8 Indemnification of member or manager
- Section 9 Records and documents
- Section 10 Furnishing of documents and information to members and managers
- Section 11 Reliance on records and documents
- Section 12 Certificate of organization
- Section 13 Amendment of certificate of organization
- Section 14 Cancellation of certificate of organization
- Section 15 Execution of certificate by authorized person
- Section 16 Failure or refusal to execute certificate
- Section 17 Filing of certificate with state secretary
- Section 18 Filing of certificate as notice
- Section 19 Restated certificates of organization
- Section 20 Admission as member of limited liability company
- Section 21 Rights, powers and duties of classes or groups of members
- Section 22 Debts, obligations and liabilities of limited liability company
CHAPTER 156D BUSINESS CORPORATIONS
CHAPTER 157 CO-OPERATIVE CORPORATIONS
- Section 1 Method of organization
- Section 2 Distribution of earnings or profits; sinking fund; limitation upon shares held
- Section 3 Organization; name
- Section 3A Repealed, 1983, 574, Sec. 14
- Section 3B Direct-charge cooperatives
- Section 4 Capital stock; powers; by-laws; meetings
- Section 5 Investment of reserve fund
- Section 6 Apportionment of earnings
- Section 7 Acceptance of provisions relating to agricultural, dairy or mercantile associations; approval
- Section 8 Use of word co-operative in connection with other businesses; penalty
- Section 9 Fee for filing articles of organization
- Section 10 Organization without capital stock; method of organization; rights and powers of members
- Section 11 Powers
- Section 12 First meeting; selection of directors
- Section 13 Scope of by-laws; amendment or repeal of by-law
- Section 14 Membership
- Section 15 Amendment or alteration of articles of organization
- Section 16 Marketing contracts between corporation and members
- Section 17 Marketing contracts; provisions for liquidated damages; injunction for breach
- Section 18 Taxation; filing fees
CHAPTER 157A EMPLOYEE COOPERATIVE CORPORATIONS
- Section 1 Short title
- Section 2 Definitions
- Section 3 Corporations organized under chapter 156D; election to be governed as employee cooperative
- Section 4 Revocation of election
- Section 5 Corporate name
- Section 6 Members; membership shares; fees; rights and responsibilities
- Section 7 Voting shares; by-laws; amendment of articles of organization
- Section 8 Net earnings or losses; apportionment, distribution and payment
- Section 9 Internal capital accounts; recall or redemption of shares; interest; collective reserve account
- Section 10 Internal capital account cooperatives
- Section 11 Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger
CHAPTER 157B COOPERATIVE HOUSING CORPORATIONS
- Section 1 Purpose of chapter
- Section 2 Application of chapter; amendment of articles of incorporation to comply with chapter
- Section 3 Cooperative corporations subject to certain laws
- Section 4 Definitions
- Section 5 Application of laws; conflict of laws
- Section 6 Articles of organization
- Section 7 Name
- Section 8 Name; forfeiture; judicial action
- Section 9 Power to make, amend or repeal by-laws
- Section 10 Articles or by-laws
- Section 11 Net savings; apportionment
- Section 12 Termination of proprietary leases
- Section 13 Loans
CHAPTER 158 CERTAIN MISCELLANEOUS CORPORATIONS
- Section 1 Application of chapter; secretary defined
- Section 2 Formation
- Section 3 Corporations formed to furnish steam, hot water, or hydrostatic or pneumatic pressure
- Section 4 Number of incorporators; capital
- Section 5 Contents of agreement of association
- Section 6 First meeting
- Section 7 Subscribers to hold franchise; distribution of shares
- Section 8 Organization
- Section 9 Submission of details of organization to secretary; approval; certificate
- Section 10 Business powers of corporation
- Section 11 Alteration, addition to or change of business
- Section 12 Digging up or opening streets or highways; qualified corporations
- Section 13 Highway defects caused by corporation; liability
- Section 14 Pipes or conductors in street; regulation by municipality
- Section 15 Corporations for introduction and propagation of herrings and alewives; local permit
- Section 16 Water, gas, power and wire communication corporations; interest upon advance payments by customers
- Section 17 Safe deposit boxes; definitions; insurance notice; overdue rentals; affidavit
- Section 18 Management by officers; selection of president
- Section 19 Selection of directors, clerk, treasurer and other agents and officers; term
- Section 20 Clerk’s duties; treasurer’s bond
- Section 21 Entitlement to stock certificates
- Section 22 Lost certificates
CHAPTER 159 COMMON CARRIERS
- Section 1 Duties; jurisdiction to enforce
- Section 2 Penalty
- Section 3 Limitations upon liability imposed by carrier
- Section 4 Security required of employee to indemnify against neglect; penalty
- Section 5 Foreign express businesses; appointment of general agent
- Section 6 Foreign express businesses; general agent’s bond
- Section 7 Foreign express businesses; failure of agent to comply with Secs. 5 and 6; penalty
- Section 8 Protection of carriers; misuse of orders; penalty
- Section 9 Express business upon steamboat lines; application of provisions relating to railroads
- Section 10 Enforcement of chapter by department of telecommunications and cable and department of public utilities
- Section 11 Record of action by department
- Section 12 Services supervised and regulated by department
- Section 12A Definitions applicable to Secs. 12B to 12D
- Section 12B Mobile radio telephone service; certification; exemptions
- Section 12C Jurisdiction of department over certified radio utilities; rate below maximum; notice
- Section 12D Secs. 12A to 12C not applicable to telephone or telegraph utilities
- Section 12E Third party verification service providers; registration
- Section 13 Inquiry into rates, etc.
- Section 14 Unjust rates, fares or charges; orders to fix; orders for reparation
- Section 14A Aircraft, rates and charges
- Section 15 Free service, tickets, passes or transportation prohibited; exceptions
- Section 16 Regulations, practices, equipment, appliances or service of carrier; department control, hearing and order; proof of compliance
- Section 16A Factors in ordering discontinuance or abandonment of railway service
- Section 17 Charges for service; regulation
- Section 18 Classes of rates established by carrier; special rates
- Section 19 Filing of rate schedules
- Section 19A Directory assistance rate schedules
- Section 19B Automatic telephone dialing systems; definition
- Section 19C Notification of wish not to receive calls from automatic telephone dialing system
- Section 19D Design and operation of automatic telephone dialing systems
- Section 19E Solicitations by telephone; required disclosures; misrepresentation
- Section 20 Notice and hearing upon proposed rate schedule changes; order
- Section 21 Establishment of through routes for passengers and freight
- Section 22 Railway signals required by department
CHAPTER 159A COMMON CARRIERS OF PASSENGERS BY MOTOR VEHICLE
- Section 1 Motor vehicles providing public transportation; license; fee; rules and regulations; appeal from denial of license
- Section 2 Licenses; specification of routes; form; detours
- Section 3 Failure of municipalities between terminals to grant license; authority of department of public utilities
- Section 4 Voiding licenses, continuing licenses; revocation of licenses
- Section 5 Temporary licenses
- Section 6 Bond; actions; cancellation of bond
- Section 7 Certificate of public convenience or necessity; transfer of certificate or charter license
- Section 7A Assignment or transfer of certificate
- Section 8 Permit required; interstate carriers excepted; compliance with department rules and regulations
- Section 9 Drivers licenses; qualifications; fees; revocation
- Section 10 Supervision and regulation by department; annual return
- Section 11 Violation of provisions of chapter; revocation of registration of vehicle or driver’s license
- Section 11A Charter, school or special service vehicles; license; rules and regulations
- Section 11B Agreements to contribute to costs of public transportation authorized
- Section 12 Local rules and regulations; changes by department
- Section 13 Department of highways; registrar of motor vehicles; application of chapter
- Section 14 Trackless trolleys; application of chapter
- Section 15 Violations; penalties; jurisdiction; complaints
- Section 16 Evasion of payment of fare; penalty
- Section 17 Repealed, 1980, 261, Sec. 27A
- Section 18 to 30 Repealed, 1934, 264, Sec. 5
CHAPTER 159B CARRIERS OF PROPERTY BY MOTOR VEHICLE
- Section 1 Policy
- Section 2 Definitions
- Section 3 Certificate authorizing operations of common carriers
- Section 4 Permits issued to contract carriers
- Section 5 Brokers; license; fees for services; rules and regulations; filing of tariffs
- Section 6 Rates and charges; tariffs; rules and regulations
- Section 6A Excessive rates; refunds; rebates; payments to owner-operators of equipment leased to prime contractors
- Section 6B Towing away and storage of motor vehicles; maximum charges; liens; annual statements
- Section 6C Repealed, 1989, 267, Sec. 4
- Section 6D Purchase by carriers; commodities for immediate resale
- Section 7 Contracts for transportation; filing; contents; charges
- Section 8 Certificate of common carrier and permit of contract carrier held by one carrier
- Section 9 Plates; driver’s certificate
- Section 10 Interstate carriers; registration; fees
- Section 10A Replacement of distinguishing plate or identification device; fees
- Section 10B Vehicles temporarily leased; distinguishing plates; transfer of plates; rules and regulations; fees
- Section 11 Assignments and transfers
- Section 11A Conditional transfers
- Section 12 Amendment, suspension or revocation; hearing
- Section 12A Director of transportation division; powers
- Section 13 Exempt vehicles
- Section 14 Investigators and examiners; powers
- Section 14A Examination of cargo and of papers relating to cargo
- Section 14B Violations of investigation provisions
- Section 15 Temporary certificates and permits
- Section 15A Agricultural carrier’s permit
- Section 16 Rules and regulations
- Section 16A Books and records; inspection or production
- Section 16B Transporting household goods; advertisements
- Section 17 Submission of accounts, records or memoranda; penalty
- Section 18 Drivers; hours
- Section 19 Rebates, concessions or discrimination; rates at less than required; evasion of regulation
- Section 19A Transportation bills; credit; exemptions
- Section 20 Conflicting authority
- Section 21 Violations
- Section 22 Saving clause
CHAPTER 159C TELEMARKETING SOLICITATION
- Section 1 Definitions
- Section 2 Unsolicited telephonic sales calls; consumer listing; updates
- Section 3 Unsolicited telephonic sales calls; limitations
- Section 4 Use of blocking devices or services prohibited
- Section 5 Exclusion of consumer information from marketing or sales solicitation publications, compilations, and databases; exceptions
- Section 5A Disclosures by telephone solicitors; information provided to consumers prior to payment
- Section 6 Consumer objections to receipt of unsolicited telephonic sales calls; methods of compilation; notification of solicitors
- Section 7 National consumer database; inclusion of commonwealth portion in no sales solicitation calls listing
- Section 8 Violations; enforcement by attorney general; consumer action; penalties; attorney’s fees and costs
- Section 9 Defense to action or proceeding for violation
- Section 10 Time limitations for actions or proceedings
- Section 11 Use of information contained in no sales solicitation listing
- Section 12 Jurisdiction; nonresidents
- Section 13 Remedies not exclusive
- Section 14 Advisory group; availability of educational materials; written and electronic information
CHAPTER 160 RAILROADS
- Section 1 Definitions
- Section 2 Boston; tribunal acting in place of county commissioners
- Section 3 Application
- Section 4 Corporation chartered concurrently with another state
- Section 5 Corporation or trustees operating railroad of another
- Section 6 Purchase of railroad by commonwealth
- Section 7 Taking by eminent domain
- Section 8 Map and engineer’s report to accompany petition for charter
- Section 9 Depositary for plans and profiles
- Section 10 Notice of route
- Section 11 Limits specified in charter
- Section 12 Fixing of route
- Section 13 Formation
- Section 14 Contents of agreement of association
- Section 15 Associates’ authority
- Section 16 Publication of agreement of association
- Section 17 Application for certificate of public convenience and necessity
- Section 18 Map; engineer’s report
- Section 19 Submission of map and report to local officials
- Section 20 Fixing of route by local officials; certificate fee
- Section 21 Fixing of route by department upon failure to agree
- Section 22 Spurs, branches and connecting and terminal tracks
CHAPTER 161 STREET RAILWAYS
- Section 1 Definitions
- Section 2 Application
- Section 3 Persons forming company
- Section 4 Contents of agreement of association; duties of associates
- Section 5 Clerk and treasurer of association; term; vacancies
- Section 6 Publication of agreement of association
- Section 7 Location
- Section 8 Certification of facts relating to formation; presentation to department
- Section 9 Certificate of incorporation
- Section 10 First meeting of incorporators; notice; waiver of notice
- Section 11 Adoption of by-laws; election of directors
- Section 12 Management of business
- Section 13 Election of officers; term; qualifications; treasurer’s bond; appointment of other officers
- Section 14 Stockholders’ meetings
- Section 15 Special meetings
- Section 16 Voting by corporation of own shares
- Section 17 Voting by shareholders; proxies
- Section 18 Directors’ meetings
- Section 19 Stock certificates
- Section 20 Issuance of certificate
- Section 20A Change of par value of capital stock
- Section 21 Assessments; default of shareholder
- Section 22 Collection of assessments
CHAPTER 161A MASSACHUSETTS BAY TRANSPORTATION AUTHORITY
- Section 1 Definitions
- Section 2 Creation of authority; powers; liability for debts and obligations; service of process
- Section 3 Additional powers of authority
- Section 4 Separate units of mass transportation facilities and equipment; establishment; lease arrangements
- Section 5 Limitations, conditions, obligations and duties of authority
- Section 5A Repealed, 1999, 127, Sec. 151
- Section 5B Disposal of stolen, lost or abandoned property
- Section 6 Ballot question for cities and towns regarding issue of joining transportation area
- Section 6A Repealed, 1999, 127, Sec. 151
- Section 7 Board of directors
- Section 7A Advisory board
- Section 8 Financial assistance from commonwealth
- Section 8A Repealed, 1999, 127, Sec. 151
- Section 9 Financial assistance from cities and towns
- Section 10 Financial assistance from the federal government
- Section 11 Board policies to increase revenues and to improve operating efficiency; net operating investment per passenger mile ratio
- Section 11A Repealed, 1999, 127, Sec. 151
- Section 12 Temporary notes; trust agreements
- Section 12A Repealed, 1999, 127, Sec. 149
- Section 13 Authorization for authority to issue bonds; purposes of bonds
- Section 14 Bonds secured by trust agreement between authority and corporate trustee
- Section 15 Bonds and notes issued by authority; securities
- Section 16 Rights of holders of bonds
- Section 17 Issuance of interest bearing or discounted notes; bond anticipation notes
- Section 18 Insufficiency of funds; payments by commonwealth
- Section 19 Stabilization fund; fare stability fund
- Section 19A to 19K Repealed, 1999, 127, Sec. 151
- Section 20 Annual itemized budget; supplementary budget
- Section 21 Allocation of annual revenues in excess of expenses
- Section 22 Remedy of private mass transportation company against authority for relief from effects of authority’s operations; procedures
CHAPTER 161B TRANSPORTATION FACILITIES, HIGHWAY SYSTEMS AND URBAN DEVELOPMENT PLANS
- Section 1 Definitions
- Section 2 Transit authorities authorized; territories; powers, duties and liabilities
- Section 3 Creation of regional transit authorities; name; notice to governor; appointment of administrator; powers, duties, etc.; joinder of contiguous territory
- Section 4 Administrator; appointment; tenure; salary; bond
- Section 5 Advisory board; members; vote; executive committee; meetings; expenses
- Section 6 Powers of authority
- Section 7 Separate units of mass transportation facilities and equipment; authorization; unit lease arrangements; financing; bonds
- Section 8 Limitations, conditions, obligations and duties of authority
- Section 9 Payment of net cost of service by state; assessment upon cities and towns in territory of transit authority
- Section 9A Cape Cod Regional Transit Authority; assessment upon member cities and towns
- Section 10 Year with net cost of service; payment by state; financing; notes; assessments on cities and towns constituting authority; year with excess; disposition of funds
- Section 11 Repealed, 2002, 184, Sec. 107
- Section 12 Audit; report; provision of copies to committee chairs
- Section 13 Exemptions from taxation and license fees
- Section 14 Establishment of authorities by vote of advisory board; nonparticipation by city or town; later joining
- Section 15 City or town assessed for net cost of service; ballot question upon continuation of membership; votes
- Section 16 Conflict of regulatory powers; resolution by department of telecommunications and energy
- Section 17 Bonds; issuance authorized; limitations; terms; requirements; conditions; rules and regulations for assistance to private companies; disbursement of proceeds
- Section 18 Trust agreement to secure bonds
- Section 19 Bonds issued under this chapter; authorized investments; use for legal deposits
- Section 20 Rights of bondholders and trustee; enforcement proceedings
- Section 21 Interest bearing or discounted notes and bond anticipation notes authorized; limitations; disposition of proceeds; payment
CHAPTER 161C RAIL TRANSPORTATION IN THE COMMONWEALTH
- Section 1 Declaration of legislative intent
- Section 2 Definitions
- Section 3 Executive office of transportation; duties
- Section 4 Expenditure of funds; application fees and rents
- Section 5 Contracts for financial assistance; limitations
- Section 6 Powers and duties of secretary
- Section 7 Railroad rights-of-way or related facilities; sale or disposition; commonwealth’s right of first refusal
CHAPTER 161D THE MASSACHUSETTS INTERCITY BUS CAPITAL ASSISTANCE PROGRAM
- Section 1 Declaration of need and intent
- Section 2 Definitions
- Section 3 Expenditure of funds
- Section 4 Rules and regulations
- Section 5 Lease agreements; limitations
- Section 6 Repealed, 2003, 26, Sec. 442
CHAPTER 162 ELECTRIC RAILROADS
- Section 1 Definitions
- Section 2 Application to Boynton bicycle railway
- Section 3 Incorporators
- Section 4 Powers
- Section 5 Content of agreement of association; execution of agreement
- Section 6 Publication of agreement
- Section 7 Certificate of public convenience and necessity
- Section 8 Fixing of route; application to municipality
- Section 9 Fixing of route
- Section 10 Location upon public way or place
- Section 11 Content of certificate of incorporation
- Section 12 Commencement of construction
- Section 13 Extensions; date of completion and opening for use
- Section 14 Common carriers of baggage and freight
- Section 15 Statutes applicable to electric railroads
- Section 16 Statutes not applicable to electric railroad
- Section 17 Elevated structures, recovery of damages for additional servitude
- Section 18 Standing or walking on track; penalty
CHAPTER 163 TRACKLESS TROLLEY COMPANIES
- Section 1 Department defined
- Section 2 Powers
- Section 3 Incorporators
- Section 4 Content of agreement of association; execution of agreement
- Section 5 Laws applicable to organization
- Section 6 Permit from authorities having jurisdiction over public ways
- Section 7 Service as common carrier
- Section 8 Application of laws governing street railways
- Section 9 Commencement of operation; limitation
- Section 10 Purchase of electricity
- Section 11 Purchase of real and personal property
- Section 12 Security for liability of company; persons enforcing payment
- Section 13 Repealed, 1984, 77, Sec. 6
CHAPTER 164 MANUFACTURE AND SALE OF GAS AND ELECTRICITY
- Section 1 Definitions
- Section 1A Retail access to generation services and choice of suppliers; electric company restructuring; divestment; ownership and operation of generating facility producing solar energy
- Section 1B Service territories for distribution companies; rates
- Section 1C Marketing companies
- Section 1D Billing of retail customers; notice of offers available by participating non-utility competitive suppliers; payment to supplier by electric distribution company
- Section 1E Performance based rate schemes; labor displacement or reductions; mediation of small claims
- Section 1F Consumer protections; rules and regulations
- Section 1G Transition costs and charges
- Section 1H Financing orders
- Section 1I . Service quality standards reports to be filed by investor-owned electric distribution, transmission, and natural gas distribution companies; penalty for failure to meet service quality s
- Section 1J Establishment of standards of acceptable performance for emergency preparation and restoration of service for electric and gas distribution companies; investigation of violation of standar
- Section 2 Construction
- Section 3 Corporations governed by chapter
- Section 4 Application of chapter 156B
- Section 4A State secretary; examination of documents; approval; instances of corporate omission
- Section 5 Organization of corporation; certification by state secretary
- Section 5A Name; restrictions; injunctive relief
- Section 6 Articles of organization; contents
- Section 7 Repealed, 1973, 860, Sec. 6
- Section 8 Amendment of articles of organization; changes in capital stock or corporate name
- Section 8A Amendment of articles of organization; change in business authorized or any other change
- Section 8B Articles of amendment; submission to state secretary; effective date; filing
- Section 8C Restatement of articles of organization; adoption; submission to state secretary; filing; effective date
- Section 8D Confirmation of organization or subsequent proceedings; certificate; submission to state secretary; effective date
- Section 9 Hydro-electric plants; issue of preferred stock and bonds; acquisition of storage reservoir
- Section 9A Electric companies providing electricity to other companies; ownership of stock
- Section 10 Issuance of capital stock; notification of department
- Section 11 Payment of price of share
- Section 12 Improper issue of stock or scrip certificates; effect; penalty
- Section 12A Convertible debentures
- Section 13 Mortgage of property
- Section 13A Issuance and pledge of bonds secured by prior liens
- Section 14 Proceedings to determine necessity of issue of stock, bonds, coupon notes or other evidences of indebtedness
- Section 15 Invitation for proposals for purchase of bonds
- Section 15A Issue or sale of bonds, etc. at less than par value or face amount
- Section 16 Making good impairment of capital stock
- Section 16A Inadequate depreciation allowances; corrective orders of department; use of funds restricted; enforcement
- Section 17 Improper issue of stock, bonds or other securities; penalty
- Section 17A Investments; approval of department; violations by officers; penalty
- Section 18 Disposition of shares
- Section 19 Sale of unissued capital stock; terms; auction sale
- Section 20 Commencement of business; liability of officers, contribution
- Section 21 Authorization necessary to transfer franchise, lease works or contract to carry on works
CHAPTER 164A NEW ENGLAND POWER POOL
- Section 1 Definitions
- Section 2 Agreement provisions authorized
- Section 3 Additional powers of member domestic electric utilities
- Section 4 Additional powers of member foreign electric utilities
- Section 5 Acquisition or ownership of interests in electric power facilities; tenancy in common; surrender or waiver of right of partition; validity and enforceability
- Section 6 Contracts; term; effect of termination of pool or agreement; exclusion from municipal debt for borrowing purposes
- Section 7 Assessment and taxation of foreign electric utilities
- Section 8 Taxation of municipal electric departments owning interests in electric power facilities; definitions; exemptions; payments in lieu of taxes; application of other laws
- Section 9 Application of other laws to pool members; rate base factors
- Section 10 Foreign electric utilities; ownership or operation of electric power facilities in commonwealth; notice, annual report and information to department; financing; application of laws
- Section 11 Revenue bonds for project costs; interim receipts or temporary bonds; issuance; agreement for consolidation of indebtedness by participating municipalities authorized
- Section 12 Borrowing in anticipation of bonds; temporary notes; issuance by city or town
- Section 13 Resolutions or trust agreements securing bonds or notes; provisions; limitations; deposit, investment and application of proceeds; pledges
- Section 14 Proceeds of bonds or notes issued and moneys governed by trust agreement or resolution; deposit or investment
- Section 15 Bonds and notes issued; payment; liability of city or town limited; exclusion from municipal debt for borrowing purposes
- Section 16 Receipts of city or town under this chapter to be held and applied in trust
- Section 17 Actions and proceedings upon bonds and notes
- Section 18 Bonds and notes issued as legal investments
- Section 19 Bonds and notes deemed investment securities
- Section 20 Bonds and notes issued; transfer, income or profit; tax exemption
- Section 21 Refunding bonds; issuance authorized; restrictions
CHAPTER 164B REGULATION OF STEAM DISTRIBUTION COMPANIES
- Section 1 Supervision by department of public utilities
- Section 2 Filing of certificate of incorporation and bylaws; safety report; penalty for failure to comply with regulations
- Section 3 Notice to attorney general of violation of chapter; authority of municipality and department of public safety undiminished
- Section 4 Exemption
CHAPTER 165 WATER AND AQUEDUCT COMPANIES
- Section 1 Definitions
- Section 1A Adequacy of distribution system; approval
- Section 1B Rules and regulations
- Section 1C Plastic pipe connections; installation; notice to property owner or occupant; grounding of structure; penalty
- Section 2 Application of other statutes
- Section 2A Filing schedule of rates and prices by water districts
- Section 2B Base rate for water charges and fees; increases for high volume users
- Section 3 Powers of department of environmental protection; impairment
- Section 4 Supervisory authority of department
- Section 4A Filing copies of existing contracts with affiliated companies; violations
- Section 4B Water companies; eminent domain or purchase; waters, water rights, lands and easements
- Section 5 Acquisition of water works and other water company property by town
- Section 6 Engineering services and advice
- Section 7 Annual report
- Section 8 Opening of streets by one other than water company; consent of municipal officers
- Section 9 Review of action of municipal officers relating to opening of streets
- Section 10 Testing of meters; report; cost
- Section 11 Intentional injury to or interference with meter; penalty
- Section 11A Procedure for shutting off the flow of water on failure to pay lawful charges
- Section 11B Shutting off water service to domicile occupied by seriously ill person; notice; penalty
- Section 11C Indebtedness of prior property owner; water supply for new owner
- Section 11D Entry on premises to examine water meters and facilities
- Section 11E Shutting off water to non-customer occupants in residential buildings; notice; procedures; payment of amount due; effect of waiver; reprisals; penalties; rules and regulations
- Section 12 Application to other statutes
- Section 13 Certificate of payment of capital stock
- Section 14 Conveyance of property in payment for stock
- Section 15 Corporations organized under earlier law; meetings and records
- Section 16 Record of proprietors’ names
- Section 17 Officers
- Section 18 Assessments; defaults; sale of shares
- Section 19 Repealed, 1941, 275, Sec. 1
- Section 20 Opening streets or ways
- Section 21 Continuing liability on contracts after dissolution
CHAPTER 166 TELEPHONE AND TELEGRAPH COMPANIES, AND LINES FOR THE TRANSMISSION OF ELECTRICITY
- Section 1 Telephone and telegraph companies; subscription and payment for stock; filing of statement
- Section 2 Debt limitation
- Section 3 Liability of president and treasurer for wilful neglect or omission
- Section 4 Issue of stock, bonds, coupon notes and other evidences of indebtedness
- Section 5 Enforcement of orders of department relating to stocks and bonds
- Section 6 Improper issue; penalty
- Section 7 Increase of capital stock; shareholders’ rights to new shares
- Section 8 Shares authorized to be sold at auction; place of sale
- Section 9 Issue of stock or scrip before payment for shares at par
- Section 10 Effect of issue of stock or scrip before payment for shares; liability of directors
- Section 11 Annual return
- Section 12 Failure to make annual return; penalty
- Section 12A Condensed return of business and financial condition
- Section 13 Telephone companies; connections with exchanges; equal facilities for all companies; definition of “person” or “company”
- Section 14 Connections with exchanges; equal facilities for applicants for telephone service; cost of extensions
- Section 14A Enhanced 911 service
- Section 15 Equal facilities for those connecting with exchange; enforcement
- Section 15A Entitlement to hand sets as station equipment
- Section 15B Sales and transfers to similar corporations
- Section 15C Emergency calls; refusal to yield party line; misrepresentation of emergency
- Section 15D Energized cables in excavations endangering telephone company employees; notice to electric company; precautionary cooperation
- Section 15E Definitions; required equipment and services for disabled subscribers; advisory committee on disabled persons’ accessibility to telephone service
- Section 16 Receipt and transmission of despatches
- Section 17 Rates to other telegraph companies or by mail
- Section 18 Violations; penalties
- Section 19 Liability for negligent transmission; claim; exceptions
- Section 20 Indication of time filed and received on addressee’s copy
- Section 21 Location of construction of electric transmission lines
- Section 21A Coming into close proximity to high voltage lines
- Section 21B Protection of overhead high voltage lines
- Section 21C Warnings; operation of equipment near high voltage lines
- Section 21D Warning signs; size; posting
- Section 21E Notification of operation near high voltage lines
- Section 21F Exemptions; definitions
- Section 21G Violations; penalties; liability
CHAPTER 166A COMMUNITY ANTENNA TELEVISION SYSTEMS
- Section 1 Definitions
- Section 2 Division of community antenna television
- Section 2A Commissioner; powers and duties; employees
- Section 3 Licenses for construction or operation of systems, necessity, non-exclusiveness, contents
- Section 4 License applications, necessity, form, contents, signatures, disclosure of ownership; additional service areas, addition to license
- Section 5 Conditions imposed on licensee
- Section 6 Hearing, notice; multiple applicants, choice, grounds, statement of reasons
- Section 7 License transfers or assignments; approval
- Section 8 Installation and maintenance of system, standards; financial and ownership statements, requirements, public inspection
- Section 9 Application fees; initial licenses, renewals, transfers or assignments; annual license fees
- Section 10 Complaints as to operation of system, procedure; licensees’ reports as to complaints received and disposition
- Section 11 Revocation of license; grounds
- Section 12 Mandamus, injunctive, or other judicial proceedings; institution or intervention by department
- Section 13 Renewal of licenses; forms; requisite information
- Section 14 Appeals by aggrieved applicants
- Section 15 Rate regulation
- Section 16 Issuance of standards and regulations; mediation between cities and towns; representation before F.C.C.; certification of performance; distribution of obscene material
- Section 17 Visitation, examination, subpoena, and oath administering powers of department
- Section 18 Violations, penalties
- Section 19 Hearings, applicability of administrative procedure act; public hearings
- Section 20 Systems constructed, purchased, and operated by cities and towns, applicability of chapter
- Section 21 Repealed, 1983, 98, Sec. 3
CHAPTER 167 SUPERVISION OF BANKS
- Section 1 Definitions
- Section 1A Rules and regulations
- Section 1B Corporations conducting business of banking company
- Section 2 Examination of banks
- Section 2A Definitions applicable to Secs. 2A to 2G; unfair practices involving consumer transactions; rules and regulations
- Section 2B Investigation of unfair practices
- Section 2C Proceedings regarding unfair practices; notice; hearing
- Section 2D Unfair practices; findings; cease and desist orders; penalty; modification of order
- Section 2E Review of cease and desist orders; civil liability
- Section 2F Violations of cease and desist orders; penalties
- Section 2G Penalties for unfair practices; enforcement
- Section 3 Meetings of board of directors or board of trustees of bank; reports on bank examinations; records; certificates
- Section 4 Summoning and examination of bank officers
- Section 5 Request for bank examination
- Section 6 Manner and form of books and accounts; safeguards; deposits
- Section 6A Copies of agreements concerning Federal Reserve regulations and operating letters, clearing house rules, etc.; rules and regulations
- Section 7 Statements and reports required by commissioner or by law
- Section 8 Failure to make or amend return, statement or report
- Section 9 Destruction or disposal of records, etc.; payment of proceeds
- Section 10 Reports of fraud, embezzlement or misconduct by bank officers or employees
- Section 11 Shortages in funds; reports; fine
- Section 12 Misconduct by bank officers; suspension; removal
- Section 12A Criminal charges against bank officers; suspension or removal from office
- Section 13 Annual reports
- Section 14 Credit needs of local communities; assessment of banks; regulations; application for establishment of domestic branch; examination; alternative community reinvestment examination procedure
- Section 14A Mortgage review boards; members; terms; appointment; meetings; rules and regulations
- Section 14B Repealed, 1996, 359, Sec. 4
- Section 14C Small business loan review boards; members; terms; appointment; meetings; rules and regulations
- Section 15 Annual list to investment committee of banks meeting local community needs
- Section 15A Annual list of legal investments
- Section 15B Inclusion in list of investments of securities not otherwise eligible
- Section 16 Repealed, 1987, 296, Sec. 1
- Section 17 Repealed, 1996, 359, Sec. 5
- Section 18 Appraisal of real estate in case of excessive loan
- Section 19 Losses of bank exceeding surplus and other reserve accounts
- Section 20 Verification of savings accounts
- Section 21 Closing of banks
- Section 21A Assent to and participation in bank reorganization by government officers
CHAPTER 167A BANK HOLDING COMPANIES
- Section 1 Definitions
- Section 2 Board of bank incorporation; acts requiring approval by board
- Section 3 Acts not requiring approval by board
- Section 3A Bank holding company subsidiaries acting as agents
- Section 4 Petition to board for authority to act under Sec. 2; hearing; review; loans to Housing Partnership Fund; executive officers; asset base
- Section 4A Repealed, 1993, 300, Sec. 2
- Section 5 Registration of certain companies with commissioner; reports; examinations; rules and regulations
- Section 6 Fines and penalties for violations
- Section 7 Supreme judicial court; jurisdiction to enforce chapter
CHAPTER 167B ELECTRONIC BRANCHES AND ELECTRONIC FUND TRANSFERS
- Section 1 Definitions
- Section 2 Regulations; advisory rulings; reconsideration of rulings; model clauses
- Section 3 Purchase, establishment, installation, etc. of electronic branches; amount of investment; location; safeguards; shared use of branches or equipment
- Section 4 Application to purchase, establish, install, etc.; information; notice of decision
- Section 5 Approval of organizations prior to investments or service contracts; application; information
- Section 6 Consumer access to electronic fund transfer
- Section 6A Security options
- Section 7 Prohibitions
- Section 8 Disclosure of terms and conditions; information included
- Section 9 Documentation of transfers; contents; notice; periodic statements
- Section 10 Preauthorized transfers
- Section 11 Waiver of rights
- Section 12 Repealed, 1991, 471, Sec. 4
- Section 13 System malfunction; suspension of obligation
- Section 14 Identifying numbers; social security number; prohibition
- Section 15 Credit or cash refunds
- Section 16 Disclosure of information
- Section 17 Remedies for wrong resolution of account error resulting from electronic funds transfer
- Section 18 Liability of consumer for unauthorized transfer
- Section 19 Liability of financial institution to consumer
- Section 20 Liability of any person to consumer
- Section 21 Violations; arrest without warrant
CHAPTER 167C BANK LOCATIONS
- Section 1 Definitions
- Section 2 Main office; change of location
- Section 3 Branch offices or depots
- Section 4 Mobile branch banking
- Section 5 Investigation fees
- Section 6 Merger or consolidation with foreign or out-of-state bank
- Section 7 Branch de novo in foreign state or country
- Section 8 Cooperative agreements with other jurisdictions for regulatory supervision of branches
- Section 9 Bank as agent for another banking institution
- Section 10, 11 Repealed, 2004, 461, Sec. 13
CHAPTER 167D DEPOSITS AND ACCOUNTS
- Section 1 Definitions
- Section 2 Powers
- Section 3 Deposits received; limitations
- Section 4 Share deposits
- Section 5 Joint accounts
- Section 5A Limited access deposit accounts
- Section 6 Deposits in trust for another
- Section 7 Payments to minors
- Section 8 Time deposits
- Section 9 Club deposits
- Section 10 Repealed, 2004, 461, Sec. 14
- Section 11 Shade Tree and Cemetery Accounts
- Section 12 Loans guaranteed by Massachusetts higher education assistance corporation
- Section 13 Return of depositor’s vouchers
- Section 14 Advance advertisement of interest or dividend rate
- Section 15 Advertisement and payment of interest; rules and regulations
- Section 16 Withdrawal of savings deposits
- Section 17 Agreements to exculpate bank for unlawful payment from deposit account
- Section 18 Lost, stolen or destroyed passbooks; payment or issuance of duplicate passbook
- Section 19 Transfer of depositor or shareholder funds as consequence of default of debt owed by depositor or shareholder to bank
- Section 20 Set off or recoupment by person indebted to bank
- Section 21 Collateral or security for deposit
CHAPTER 167E MORTGAGES AND LOANS
- Section 1 Definitions
- Section 1A Repealed, 2004, 461, Sec. 15
- Section 2 Powers
- Section 3 First mortgage real estate loans; classes
- Section 4 Loan policies
- Section 5 Investigation and appraisal of real estate securing a loan
- Section 6 Limitations on obligations
- Section 7 Reverse mortgage loans
- Section 8 Acquisition of mortgage loans; restrictions
- Section 9 to 12 Repealed, 2004, 461, Sec. 15
- Section 12A Repealed, 1992, 268, Sec. 12
- Section 13 to 16 Repealed, 2004, 461, Sec. 15
CHAPTER 167F INVESTMENTS AND OTHER POWERS
- Section 1 Definitions
- Section 2 Powers
- Section 2A Sale of insurance by banks
- Section 3 Investments; classes of stocks
- Section 4 Selling, issuing or registering checks or money orders
- Section 5 Federal Home Loan Bank; membership; investment in stock
- Section 6 Federal deposit insurance corporation or federal savings and loan insurance corporation; membership; subrogation rights
- Section 7 Repealed, 1985, 405, Sec. 1
- Section 8 Subscription for and acquisition of stock issued by Federal Reserve Bank of Boston
- Section 9 Membership in certain organizations
CHAPTER 167G TRUST DEPARTMENT
- Section 1 Definitions
- Section 2 Trust department; authorization
- Section 3 Powers
- Section 4 Segregation of funds, etc.
- Section 5 Investment of funds or assets
- Section 6 Surety required upon bonds filed by bank as fiduciary
- Section 7 Returns and papers signed and sworn to by bank officers
- Section 8 Funds held in trust department awaiting investment or distribution
- Section 9 Capital stock as security for performance of duty
CHAPTER 167H MUTUAL HOLDING COMPANIES
- Section 1 Definitions
- Section 2 Reorganization of mutual banking institution
- Section 3 Notice of proposed reorganization to commissioner; factors to be considered
- Section 4 Board of corporators; members; term; election
- Section 5 Application for proposed formation of subsidiary banking institution; factors to be considered; issuance of charter
- Section 6 Rights, powers and privileges of reorganized mutual banking institution
- Section 7 Mutual holding company; powers and duties
- Section 8 Registration with commissioner; requisite information
- Section 9 Conversion to stock holding company
- Section 10 Acquisition or merger with another holding company
- Section 11 Subsidiary banking institution; issuance of securities to general public
CHAPTER 168 SAVINGS BANKS
- Section 1 Definitions
- Section 2 Powers
- Section 3 Application of this chapter and chapters 167C to 167G
- Section 4 Agreement to form savings bank; subscribers
- Section 5 Notice and application to board of bank incorporation; certificate; hearing; special guaranty fund
- Section 6 First meeting of subscribers
- Section 7 Articles; certificate of incorporation
- Section 8 Meetings of corporators, board of trustees, and board of investment; location
- Section 9 Corporators
- Section 9A Annual and special meetings
- Section 10 Board of trustees
- Section 11 Meetings of board of trustees
- Section 12 Board of investment; membership; reports; meetings
- Section 13 Officers
- Section 14 Election of officers and trustees
- Section 15 Notice to persons elected; list of names of officers and trustees
- Section 16 Auditing committee; other committees
- Section 17 By-laws
- Section 18 Bond of officers and employees
- Section 19 Loans or extensions of credit to officers or trustees; ownership of real property by officers or trustees when mortgage held by corporation
- Section 20 Annual report to commissioner of loan or extension of credit to officers, directors, trustees or principal shareholders
- Section 21 Duties of treasurer under other provisions of law
CHAPTER 169 RECEIPTS OF DEPOSITS FOR TRANSMITTAL TO FOREIGN COUNTRIES
- Section 1 Application of chapter
- Section 2 Bond; amount; condition
- Section 3 Bonds; requirements; issuance and revocation of licenses; trust fund for depositors
- Section 4 Bonds; duty of state treasurer to keep record; public inspection
- Section 5 Actions on bonds
- Section 6 Licenses
- Section 7 Commissioner; rules and regulations
- Section 8 Money received for transmission; receipts
- Section 9 Licensees’ annual report
- Section 10 Books and accounts; inspections
- Section 11 Investigation of persons other than licensees
- Section 12 Revocation, suspension or surrender of licenses
- Section 13 Cease and desist orders
- Section 14 Restraint orders; receivers
- Section 15 Commissioner; civil actions
- Section 16 Penalties
CHAPTER 169A LICENSING OF CHECK CASHERS
- Section 1 Definitions
- Section 2 License; rules and regulations
- Section 3 Application for licensure; approval
- Section 4 Denial of application; notice; appeal
- Section 5 Location of business and name of licensee to be noted on license; change of location, officers, partners, etc.
- Section 6 Schedule of fees and charges; filing and posting
- Section 7 Receipts
- Section 8 Suspension or revocation of license
- Section 9 Violations; temporary cease and desist orders
- Section 10 Investigation and examination by commissioner
- Section 11 Annual report; books, accounts, and records
- Section 12 Violations; civil action
- Section 13 Penalty
CHAPTER 170 CO-OPERATIVE BANKS
- Section 1 Definitions
- Section 1A Powers
- Section 2 Agreement to form co-operative bank; subscribers
- Section 3 Change of corporate name
- Section 4 Notice and application to board of bank incorporation; certificate; hearing; special surplus fund
- Section 5 First meeting of subscribers
- Section 6 Articles; certificate of incorporation
- Section 7 By-laws
- Section 8 Members; voting rights
- Section 9 Board of directors; clerk; directors and officers; records of meetings
- Section 10 Directors or officers serving in same capacity for other financial institutions
- Section 11 Security committee; finance committee
- Section 12 Treasurer; duties; assistant treasurer
- Section 13 Duties of treasurer under other provisions of law
- Section 14 Powers and duties of commissioner; audit
- Section 15 Bond of officers and employees
- Section 16 Misconduct of officer, director, agent or employee
- Section 17 Fee, commission, gift, or other consideration for or in connection with business of corporation
- Section 18 Report to commissioner; balance sheet
- Section 19 Loans or extension of credit to officers or directors
- Section 19A Violations; penalty
- Section 20 Distribution of net profits
- Section 20A Computation and rate of dividends and interest
- Section 21 Surplus accounts
CHAPTER 171 CREDIT UNIONS
- Section 1 Definitions
- Section 2 Incorporation; agreement of association
- Section 3 Notice to commissioner; investigation fee
- Section 4 First meeting of incorporators; notice
- Section 5 Articles of organization; certificate of incorporation
- Section 6 Transaction of business; authorization; approval of by-laws; failure to commence
- Section 6A Powers and permissible activities; regulations
- Section 7 Use of words “credit union” restricted; penalties
- Section 8 Location changes; branches and depots; consolidations or mergers
- Section 9 By-laws
- Section 10 Amendment of by-laws
- Section 11 Annual meetings; special meetings; notice; voting
- Section 12 Directors; terms; inability to pay judgment; classes
- Section 13 Powers and duties of directors; quorum; removal from office; honorary president; participation in meetings by means of conference telephone or similar electronic communications equipment
- Section 14 Expulsion of members
- Section 15 Officers and committee members; election and appointment; loan officers
- Section 16 Auditing committee; powers and duties
- Section 17 Credit committee; powers and duties
- Section 18 Investment committee; powers and duties
- Section 19 Directors and officers; limitations on services with other financial institutions
- Section 20 Compensation and expense reimbursement; restrictions on loans to directors
- Section 21 Bond requirements
CHAPTER 172 TRUST COMPANIES
- Section 1 Definitions
- Section 1A Powers
- Section 2 Application of this chapter and chapters 167C to 167G, inclusive
- Section 3 Use of words “trust company”
- Section 4 Capital structure upon incorporation
- Section 5 Agreement of association
- Section 6 Notice and application to board of bank incorporators; certificate; hearing
- Section 7 First meeting of incorporators
- Section 8 Articles of organization; certificate of incorporation
- Section 9 List of stockholders; certificate authorizing corporation to begin transacting business
- Section 9A Limited purpose trust company; notice and application; out-of-state offices
- Section 10 Repealed, 1987, 239, Sec. 10
- Section 11 By-laws
- Section 12 Stockholder voting
- Section 13 Board of directors; executive committee
- Section 14 Election of officers
- Section 15 Officers and employees; bond
- Section 16 Meetings of board of directors; report on transactions
- Section 17 Duties of treasurer under other provisions of law
- Section 18 Loans or extension of credit to officers or directors; ownership of real property by officers or directors when mortgage held by corporation
- Section 19 Director or officer serving in same capacity for other financial institutions
- Section 20 Fee, commission, gift or other consideration in connection with corporation business; salary, interest on deposits, corporation benefits or profits; disclosure
- Section 21 Misconduct of officer, director, agent or employee
CHAPTER 173 MORTGAGE LOAN INVESTMENT COMPANIES [Repealed, 1975, 126.]
CHAPTER 174 BOND AND INVESTMENT COMPANIES [Repealed, 1950, 822, Sec. 1.]
CHAPTER 174A REGULATION OF RATES FOR FIRE, MARINE AND INLAND MARINE INSURANCE, AND RATING ORGANIZATIONS
- Section 1 Title of chapter
- Section 2 Purpose; construction
- Section 3 Definitions
- Section 4 Restrictions on application
- Section 5 Rates; general provisions
- Section 6 Rates; filing with commissioner
- Section 7 Defective filing; remedy of aggrieved persons
- Section 8 Rating organizations; licensing; fee; powers; regulations
- Section 9 Filings by voting organization; adherence by members; deviation; application; hearing
- Section 10 Rating organizations; action or decision; appeal
- Section 11 Rating organization; duties; appearance by agent or broker
- Section 12 Advisory organizations
- Section 13 Joint reinsurance; regulation
- Section 14 Rating and advisory organizations; examination
- Section 14A Fire insurance ratings; hearings
- Section 15 Commissioner; rule-making power
- Section 16 False or misleading information
- Section 17 Penalties
- Section 18 Aggrieved parties; hearing; review
- Section 19 Partial invalidity
CHAPTER 174B REGULATION OF AUTOMOBILE CLUBS
- Section 1 Title of chapter
- Section 2 Definitions
- Section 3 Bail bond and insurance coverage or benefits
- Section 4 Licensing; fee
- Section 5 Service of process; appointment of commissioner as attorney
- Section 6 Bond or financial responsibility; filing
- Section 7 Annual statement of financial condition; filing; requisites; failure to file, suspension or revocation of license
- Section 8 Refusal, suspension or revocation of license; grounds
- Section 9 Service contracts; form; contents
- Section 10 Club agents; notice of employment or termination; applications, requisites; registration fee
- Section 11 Suspension, revocation or refusal of club agent’s registration; grounds
CHAPTER 174C VEHICLE PROTECTION PRODUCT WARRANTIES ACT
- Section 1 Definitions
- Section 2 Vehicle protection product warranty requirement
- Section 3 Warranty reimbursement insurance policy
- Section 4 Minimum net worth to be maintained by warrantor
- Section 5 Warrantor registration with state secretary
- Section 6 Investigations by state secretary of possible violations of chapter 174C; administrative fines; payment of investigation costs
CHAPTER 175 INSURANCE
- Section 1 Definitions
- Section 2 Insurance contract; definition
- Section 2A Reinsurance contracts; status
- Section 2B Readability of policy form; definition; approval; actions based on language
- Section 3 Unauthorized insurance, annuity or variable annuity contracts; prohibition
- Section 3A Insurance laws; administration and enforcement; report of violations
- Section 3B Duties of attorney general; injunctive relief
- Section 3C Authority to define terms; conformance of definitions to small group insurance policy standards
- Section 4 Examination of companies
- Section 4A Provision of data to commissioner by homeowners insurers and joint underwriting association; access to confidential data; annual report to general court
- Section 4B Annual report to commissioner of cancellations and non-renewals of homeowners policies
- Section 4C Nondiscrimination in provision, renewal, or cancellation of homeowners insurance
- Section 4D Coverage to be made available to residential owners for release of heating oil
- Section 5 Foreign companies; revocation of authority; petition for review
- Section 6 Domestic companies; impaired capital; receivership and injunction proceedings
- Section 7 Repealed, 1925, 154, Sec. 6
- Section 8 Repealed, 1924, 406, Sec. 17
- Section 8A Summoning of witnesses
- Section 9 Computation of reserves; life companies
- Section 9A Claim fluctuation reserves; life companies
- Section 9B Annual actuary opinion
- Section 10 Liability of companies upon their contracts of insurance; other than life companies and health maintenance organizations
- Section 11 Assets and liabilities; computation
- Section 11A Valuation of investments
- Section 12 Computation of reserves; liability companies
- Section 12A Repealed, 2004, 123, Sec. 11
- Section 13 Repealed, 1923, 39, Sec. 3
- Section 14 Charges and fees
- Section 14A Committee on Valuation of Securities of National Association of Insurance Commissioners; assessment of expenses
- Section 15 Repealed, 1993, 226, Sec. 14
- Section 16 Record of proceedings; certified copies
- Section 17 Annual report
- Section 18 Conduct of business in corporate name; publication of assets and liabilities
- Section 19 Repealed, 1931, 426, Sec. 273
- Section 19A Merger or consolidation; domestic corporations
- Section 19B Merger or consolidation; formation of foreign corporation
- Section 19C Merger or consolidation; rights of minority stockholders
- Section 19D Conversion from stock to mutual company
- Section 19E Conversion from mutual to stock company
- Section 19F Reorganization as domestic stock insurer owned by mutual holding company
- Section 19G Definitions
- Section 19H Plan of reorganization; public hearing; approval of plan; meeting
- Section 19I Salaries, fees and compensation
- Section 19J Withdrawal or amendment of plan of reorganization
- Section 19K Certificate of authority; approval of articles of organization; status upon effective date of plan; rights of members
- Section 19L Commencement of actions; security for damages and expenses
- Section 19M Amendment of amended articles of organization or plan of reorganization upon effective date; vote
- Section 19N Continued use of word mutual in name
- Section 19O Transfer of assets or liabilities
- Section 19P First offer of voting stock after effective date of plan of reorganization; application
- Section 19Q Mutual life insurer as reorganizing insurer; establishment of closed block or alternate method for protection of existing policyholders’ contractual rights
- Section 19R Additional requirements applicable to reorganizing insurers, intermediate stock holding companies and mutual holding companies
- Section 19S Merger or consolidation of two or more mutual holding companies; written agreement of terms and conditions; pending actions, obligations and liabilities
- Section 19T Domestic mutual insurance company reorganizing with existing domestic or foreign mutual holding company; terms and conditions
- Section 19U Conversion of domestic mutual holding company into domestic stock corporation
- Section 19V Transactions entered into by mutual insurers for purpose of avoiding total gross investment income earned excise
- Section 19W Promulgation of regulations
- Section 20 Reinsurance
- Section 20A Credit for reinsurance; requirements
- Section 21 Single risk; limitation; penalty