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Code · Massachusetts · Part I — ADMINISTRATION OF THE GOVERNMENT · Title VII — CITIES, TOWNS AND DISTRICTS · Chapter 40M

Section 11: Rating plan; annual audit

140 words·~1 min read·/ma/part-i/title-vii/chapter-40m/11·

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Section 11.
(A)A group shall file with the commissioner its rating plan.
(B)Each group shall be audited at least annually by an auditor acceptable to the commissioner to verify proper rating. A report of the audit shall be filed with the commissioner in a form prescribed by the commissioner. A group or any member thereof may request a hearing on any objections to the rating. If the commissioner determines that as a result of an improper rating a member's premium contribution is insufficient, he shall order the group to assess that member an amount equal to the deficiency. If the commissioner determines that as a result of an improper rating a member's premium is excessive, he shall order the group to refund to the member the excess collected. The audit shall be at the expense of the group.
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