Massachusetts § 19X Disclosure by mutual companies of compensation paid to executive officers and directors

Massachusetts Statutes

§ 19X — Disclosure by mutual companies of compensation paid to executive officers and directors

Massachusetts § 19X

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 175INSURANCE

This text of Massachusetts § 19X (Disclosure by mutual companies of compensation paid to executive officers and directors) 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, § 19X (2026).

Text

Section 19X.

(a)A mutual company, as defined in section 19G, shall provide clear, concise and understandable disclosure of all compensation awarded to, earned by or paid to the named executive officers or directors designated in subsection (b). A mutual company shall conspicuously publish such disclosure in a format readily accessible to members.

(b)For the purposes of this section, a ''named executive officer or director'' shall mean:

(i)a person serving as a company's principal or chief executive officer or acting in a similar capacity during the last completed fiscal year regardless of compensation level;

(ii)a person serving as a company's principal or chief financial officer or acting in a similar capacity during the last completed fiscal year regardless of compensation level; (iii

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Section 19X. (a) A mutual company, as defined in section 19G, shall provide clear, concise and understandable disclosure of all compensation awarded to, earned by or paid to the named executive officers or directors designated in subsection (b). A mutual company shall conspicuously publish such disclosure in a format readily accessible to members.(b) For the purposes of this section, a ''named executive officer or director'' shall mean: (i) a person serving as a company's principal or chief executive officer or acting in a similar capacity during the last completed fiscal year regardless of compensation level; (ii) a person serving as a company's principal or chief financial officer or acting in a similar capacity during the last completed fiscal year regardless of compensation level; (iii) a company's 3 most highly compensated executive officers, other than the chief executive officer and chief financial officer, who were serving as executive officers at the end of the last completed fiscal year; (iv) up to 2 additional persons for whom disclosure would have been provided under clause (iii) but for the fact that the individual did not serve as an executive officer of the company at the end of the last completed fiscal year; and (v) a company's directors.