§ 6 — Annual statement of financial condition; penalty for failure to file

Massachusetts § 6

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XXII: CORPORATIONS
• Ch. 175F: MEDICAL MALPRACTICE SELF–INSURANCE TRUST FUNDS

Text

Section 6. A fund shall annually on January first file with the commissioner a statement showing its financial condition as of September thirtieth of the prior year. Such statement shall be on a form provided by the commissioner. The commissioner may require in writing, at any time, such additional information as is reasonable and necessary to determine the financial condition of a fund. A fund unreasonably neglecting to file the statement required hereunder in a timely fashion, or unreasonably neglecting to comply with any such informational request by the commissioner within thirty days following receipt of a written request for said information, shall forfeit one hundred dollars for each day which such unreasonable neglect continues. Such fine shall be imposed only after a hearing in accordance with chapter thirty A, conducted by the commissioner.The commissioner shall have the power to examine the financial condition of a fund.