Massachusetts General Laws ch. 175D sec. 12 – Return of excess assets to insurers in proportion to contributions to Fund
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Section 12. If, at the end of any calendar year, the board of directors finds that the assets of the Fund exceed the liabilities of the Fund as estimated by the board of directors for the coming year, the board may order that the amount by which the assets of the fund exceed the liabilities shall be returned to the insurers in proportion to the contribution of each insurer to the Fund.
Terms Used In Massachusetts General Laws ch. 175D sec. 12
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.