General Laws of Massachusetts - Chapter 175K Interstate Insurance Compact
- Massachusetts General Laws - Definitions - Chapter 175K, Section 1
For purposes of this compact, the following words shall have the following meanings:— “Advertisement”, material designed to create public interest in a product, or induce...
- Massachusetts General Laws - Interstate insurance product regulation commission - Chapter 175K, Section 2
(a) The compacting states hereby create and establish a joint public agency known as the interstate insurance product regulation commission. Pursuant to section 3, the...
- Massachusetts General Laws - Powers of commission - Chapter 175K, Section 3
The commission shall have the following powers: (1) to promulgate rules, pursuant to section 6, which shall have the force and effect of law and...
- Massachusetts General Laws - Membership; powers and duties; management committee; legislative committee; recordkeeping; liability - Chapter 175K, Section 4
(1)(a) Each compacting state shall have and be limited to 1 member. Each member shall be qualified to serve in that capacity pursuant to applicable...
- Massachusetts General Laws - Meetings; voting - Chapter 175K, Section 5
(1) The commission shall meet and take actions consistent with this compact and the by-laws. (2) Each member of the commission shall have the right...
- Massachusetts General Laws - Rules; uniform standards; operating procedures - Chapter 175K, Section 6
(1) The commission shall promulgate reasonable rules, including uniform standards, and operating procedures in order to effectively and efficiently achieve the purposes of this compact....
- Massachusetts General Laws - Public inspection; confidentiality; compliance by compacting states - Chapter 175K, Section 7
(1) The commission shall promulgate rules establishing conditions and procedures for public inspection and copying of its information and official records, except information and records...
- Massachusetts General Laws - Dispute resolution - Chapter 175K, Section 8
The commission shall attempt, upon the request of a member, to resolve any disputes or other issues that are subject to this compact and which...
- Massachusetts General Laws - Insurers and third-party filers; product approval - Chapter 175K, Section 9
(1) Insurers and third-party filers seeking to have a product approved by the commission shall file the product with, and pay applicable filing fees to,...
- Massachusetts General Laws - Disapproval of products; review panel; modification or withdrawal of approval - Chapter 175K, Section 10
(1) Not later than 30 days after the commission has given notice of a disapproved product or advertisement filed with the commission, the insurer or...
- Massachusetts General Laws - Commission funding; financial rules - Chapter 175K, Section 11
(1) The commission shall pay or provide for the payment of the reasonable expenses of its establishment and organization. To fund the cost of its...
- Massachusetts General Laws - Eligibility of compacting states; effectiveness of compact; amendments - Chapter 175K, Section 12
(1) A state is eligible to become a compacting state. (2) The compact shall become effective and binding upon legislative enactment of the compact into...
- Massachusetts General Laws - Withdrawals from compact or default; reinstatement; dissolution of compact - Chapter 175K, Section 13
(1)(a) Once effective, the compact shall continue in force and remain binding upon each and every compacting state; provided, that a compacting state may withdraw...
- Massachusetts General Laws - Severability - Chapter 175K, Section 14
(1) The provisions of this compact shall be severable; and if any phrase, clause, sentence or provision is considered unenforceable, the remaining provisions of the...
- Massachusetts General Laws - Enforcement of other laws of compact states - Chapter 175K, Section 15
(1)(a) Nothing herein prevents the enforcement of any other law of a compacting state, except as provided in paragraph (b). (b) For any product approved...
- Massachusetts General Laws - Commissioner of insurance serving as representative - Chapter 175K, Section 16
The commissioner of insurance for the commonwealth of Massachusetts shall serve as the representative of the commonwealth to the commission.
Last modified: September 11, 2015