Section 6. A fund shall annually on January first file with the commissioner a statement showing its financial condition as of September thirtieth of the prior year. Such statement shall be on a form provided by the commissioner. The commissioner may require in writing, at any time, such additional information as is reasonable and necessary to determine the financial condition of a fund. A fund unreasonably neglecting to file the statement required hereunder in a timely fashion, or unreasonably neglecting to comply with any such informational request by the commissioner within thirty days following receipt of a written request for said information, shall forfeit one hundred dollars for each day which such unreasonable neglect continues. Such fine shall be imposed only after a hearing in accordance with chapter thirty A, conducted by the commissioner.
The commissioner shall have the power to examine the financial condition of a fund.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
