Massachusetts § 7 Sanctions

Massachusetts Statutes

§ 7 — Sanctions

Massachusetts § 7

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 176WCORPORATE GOVERNANCE ANNUAL DISCLOSURE

This text of Massachusetts § 7 (Sanctions) 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. 176W, § 7 (2026).

Text

Section 7. Any insurer failing, without just cause, to timely file the CGAD as required pursuant to this chapter shall, after notice and hearing, be subject to a penalty of $500 for each day of delay, to be recovered by the commissioner. The maximum penalty under 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 7. Any insurer failing, without just cause, to timely file the CGAD as required pursuant to this chapter shall, after notice and hearing, be subject to a penalty of $500 for each day of delay, to be recovered by the commissioner. The maximum penalty under 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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Massachusetts § 7, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/176W/7.