Bill > H232

This bill amends Chapter 142A of the General Laws, which pertains to the residential contractors guaranty fund, a fund designed to protect consumers who have suffered financial losses due to the actions of certain residential contractors. Specifically, it changes the requirements for homeowners seeking to claim funds from the guaranty fund. Instead of needing to prove they have exhausted all reasonable efforts to collect a judgment from a contractor, homeowners will now only need to show they have obtained a judgment or arbitration award. The bill also clarifies the evidence homeowners must provide in specific situations, such as when a contractor has filed for bankruptcy, is suspected of fleeing the jurisdiction, or when a judgment remains unsatisfied after execution, requiring proof of bankruptcy status from the U.S. Bankruptcy Court or evidence of attempted service and efforts to locate the contractor. Additionally, the bill removes a provision requiring the director to promulgate regulations for the fund and makes a technical change to reference section five of Chapter 142A in another section.