summary
Introduced
03/29/2021
03/29/2021
In Committee
02/17/2022
02/17/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
For legislation relative to compensation of executive officers for mutual companies. Financial Services.
AI Summary
This bill aims to enhance transparency and accountability in the executive compensation of mutual companies. It amends an existing law to require that at least once every 3 years, mutual companies must include a separate non-binding shareholder vote on the compensation of named executive officers or directors. Additionally, the bill authorizes the Commissioner of Insurance to promulgate regulations to increase transparency in executive compensation and implement the provisions of this section.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Last Action
Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 02/17/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/S706 |
| Bill | https://malegislature.gov/Bills/192/S706.pdf |
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