Section 16. A pilot, in case of the decease, insolvency or bankruptcy of a surety upon his bond, shall give notice thereof to the commissioners. In such a case, or whenever a pilot’s bond appears to the commissioners to be insufficient, he shall give a new bond.

Terms Used In Massachusetts General Laws ch. 103 sec. 16

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
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