Section 26: Failure to make and file annual statements; penalty
89 words·~1 min read·
/ma/part-i/title-xxii/chapter-175/26·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 26. A company neglecting to make and file its annual statement or the materials required by the commissioner to be filed with the National Association of Insurance Commissioners under the provisions of section twenty-five in the form and within the time provided by the preceding section shall forfeit one hundred dollars for each day during which such neglect continues, and, upon notice by the commissioner to that effect, its authority to do new business shall cease while such default continues without any proceedings under section five or six.