Massachusetts § 12 Refund of excess funds

Massachusetts Statutes

§ 12 — Refund of excess funds

Massachusetts § 12

Part IADMINISTRATION OF THE GOVERNMENT

Title VIICITIES, TOWNS AND DISTRICTS

Ch. 40MGOVERNMENTAL UNITS POOLED INSURANCE

This text of Massachusetts § 12 (Refund of excess funds) 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. 40M, § 12 (2026).

Text

Section 12.

(A)Any monies for a fund year in excess of the amount necessary to fund all obligations, including reserves for claims and reserves for incurred but not reported claims for that fund year may be declared to be refundable by the board of trustees not less than six months after the end of the fund year.

(B)Each member shall be given a written description of the refund plan at the time of application for membership. A refund for any fund year shall be paid only to those employers who remain participants in the group for the entire fund year.

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Section 12. (A) Any monies for a fund year in excess of the amount necessary to fund all obligations, including reserves for claims and reserves for incurred but not reported claims for that fund year may be declared to be refundable by the board of trustees not less than six months after the end of the fund year.(B) Each member shall be given a written description of the refund plan at the time of application for membership. A refund for any fund year shall be paid only to those employers who remain participants in the group for the entire fund year.

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Bluebook (online)

Massachusetts § 12, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/40M/12.