Massachusetts § 8 Failure to timely file ORSA summary report; penalty

Massachusetts Statutes

§ 8 — Failure to timely file ORSA summary report; penalty

Massachusetts § 8

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 176VOWN RISK AND SOLVENCY ASSESSMENT

This text of Massachusetts § 8 (Failure to timely file ORSA summary report; penalty) 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. 176V, § 8 (2026).

Text

Section 8. Any insurer failing, without just cause, to timely file the ORSA summary report as required in this chapter shall be required, after notice and hearing, to pay a penalty of $500 for each day the report is delayed, to be recovered by the commissioner. The maximum penalty pursuant to this section shall be $10,000. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.

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Section 8. Any insurer failing, without just cause, to timely file the ORSA summary report as required in this chapter shall be required, after notice and hearing, to pay a penalty of $500 for each day the report is delayed, to be recovered by the commissioner. The maximum penalty pursuant to this section shall be $10,000. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.

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Bluebook (online)

Massachusetts § 8, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/176V/8.