MA S621

Bill

Relative to executive compensation for mutual companies

Introduced
01/22/2019

In Committee
05/07/2020

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation relative to compensation of executive officers for mutual companies. Financial Services.

AI Summary

This bill amends Section 19x of Chapter 175 of the General Laws to require mutual companies to include a separate resolution subject to a non-binding vote to approve or disapprove the compensation of named executive officers or directors at least once every 3 years as part of their proxy, consent, authorization, solicitation, or notice of an annual meeting. The bill also requires the Commissioner of Insurance to promulgate regulations to increase transparency in executive compensation and carry out the provisions of this section.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (1)

Mark Montigny (D),

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 05/07/2020)

Official Document

https://malegislature.gov/Bills/191/S621

(8 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/S621
Bill	https://malegislature.gov/Bills/191/S621.pdf

Bill	Bill Name	Last Action	Type
H1100	Promoting consumer choice in health care	Accompanied a study order, see H5160	Similar To
H1105	Relative to insurance companies and death certificates	Accompanied a study order, see H5160	Similar To
H3558	Reforming labor rates paid by insurance companies to auto repairers in the Commonwealth	Accompanied a study order, see H5160	Similar To
H3559	Reforming labor rates paid by insurance companies to auto repairers in the Commonwealth	Accompanied a study order, see H5160	Similar To
H901	Relative to arbitration for automobile insurance property damage	Accompanied a study order, see H5160	Similar To
H903	Authorizing insurance providers to extend motor vehicle liability insurance rebates to customers with safe driving records	Accompanied a study order, see H5160	Similar To
H950	Relative to notices by insurance companies	Accompanied a study order, see H5160	Similar To
H983	Reforming labor rates paid by insurance companies to auto repairers in the Commonwealth	Accompanied a study order, see H5160	Similar To

Bill > S621

MA S621

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary