Massachusetts § 19O Transfer of assets and liabilities of reorganized insurer

Massachusetts Statutes

§ 19O — Transfer of assets and liabilities of reorganized insurer

Massachusetts § 19O

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 175INSURANCE

This text of Massachusetts § 19O (Transfer of assets and liabilities of reorganized insurer) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mass. Gen. Laws ch. 175, § 19O (2026).

Text

Section 19O. In addition to any dividend in compliance with section 72, a reorganized insurer may, either pursuant to the plan of reorganization or upon the prior approval of the commissioner, on any one or more occasions on or after the effective date, transfer assets or liabilities, including any one or more of its subsidiaries, to the mutual holding company or to one or more persons owned or controlled by the mutual holding company; provided, however, that in any such transfer, in either a single instance or in the aggregate, the liabilities so transferred may not be greater than the assets so transferred. The commissioner shall approve such a proposed transfer unless the commissioner finds that the transfer would materially adversely affect the ability of the reorganized insurer to mee

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Section 19O. In addition to any dividend in compliance with section 72, a reorganized insurer may, either pursuant to the plan of reorganization or upon the prior approval of the commissioner, on any one or more occasions on or after the effective date, transfer assets or liabilities, including any one or more of its subsidiaries, to the mutual holding company or to one or more persons owned or controlled by the mutual holding company; provided, however, that in any such transfer, in either a single instance or in the aggregate, the liabilities so transferred may not be greater than the assets so transferred. The commissioner shall approve such a proposed transfer unless the commissioner finds that the transfer would materially adversely affect the ability of the reorganized insurer to meet its obligations under its policies. If such a transfer is to be made upon the prior approval of the commissioner rather than under a plan of reorganization, the other provisions of sections 19F to 19W, inclusive, including, without limitation, the requirement of filing a plan of reorganization, shall not apply. The provisions of section 206C shall not apply to any transfer effected pursuant to this section.