MA S561

Bill

Relative to executive compensation for mutual companies

Introduced
01/23/2017

In Committee
01/23/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th 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, non-binding resolution in their proxy or consent forms for shareholder votes on the compensation of named executive officers or directors at least once every 3 years. 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

Business and Industry

Sponsors (1)

Mark Montigny (D),

Last Action

Accompanied a study order, see S2496 (on 04/30/2018)

Official Document

https://malegislature.gov/Bills/190/S561

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S561
Bill	https://malegislature.gov/Bills/190/S561.pdf

Bill	Bill Name	Last Action	Type
H2186	Relative to single risk limitations	Read second and ordered to a third reading	Similar To
H3661	To help small fraternal insurance companies	Accompanied a study order, see H4778	Similar To
H479	Relative to arbitration for automobile insurance property damage	Accompanied a study order, see H4778	Similar To
H481	Authorizing insurance providers to extend motor vehicle liability insurance rebates to customers with safe driving records	Accompanied a study order, see H4778	Similar To
H494	Reforming labor rates paid by insurance companies to auto repairers in the Commonwealth	Accompanied a study order, see H4785	Similar To
H546	Reforming labor rates paid by insurance companies to auto repairers in the Commonwealth	Accompanied a study order, see H4785	Similar To
H584	Relative to medical loss ratio for insurance corporations	Accompanied a study order, see H4778	Similar To
S1737	Relative to equitable pay at quasi-public agencies	Accompanied a study order, see H4481	Similar To
S2496	Order relative to authorizing the joint committee on Financial Services to make an investigation and study of certain current Senate documents relative to financial services issues	Discharged to the committee on Senate Rules	Replaced by

Bill

Bill Name

Last Action

Type

H2186

Relative to single risk limitations

Read second and ordered to a third reading

Similar To

H3661

To help small fraternal insurance companies

Accompanied a study order, see H4778

Similar To

H479

Relative to arbitration for automobile insurance property damage

Accompanied a study order, see H4778

Similar To

H481

Authorizing insurance providers to extend motor vehicle liability insurance rebates to customers with safe driving records

Accompanied a study order, see H4778

Similar To

H494

Reforming labor rates paid by insurance companies to auto repairers in the Commonwealth

Accompanied a study order, see H4785

Similar To

H546

Reforming labor rates paid by insurance companies to auto repairers in the Commonwealth

Accompanied a study order, see H4785

Similar To

H584

Relative to medical loss ratio for insurance corporations

Accompanied a study order, see H4778

Similar To

S1737

Relative to equitable pay at quasi-public agencies

Accompanied a study order, see H4481

Similar To

S2496

Order relative to authorizing the joint committee on Financial Services to make an investigation and study of certain current Senate documents relative to financial services issues

Discharged to the committee on Senate Rules

Replaced by

Bill > S561

MA S561

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

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