Mass. Gen. Laws ch. 149 § 178E
Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session
If a dividend is declared or a reduction in rate is made under any group insurance policy, the excess, if any, of the aggregate dividends or rate reductions under such policy and all other group insurance policies of the policyholder over the aggregate expenditure for insurance under such policies made from funds contributed by the policyholder, or by an employer of insured persons, or by a union or association to which insured persons belong, including expenditures made in connection with administration of such policies, shall be applied by the policyholder for the sole benefit of insured employees or members.
Mass. Gen. Laws ch. 149, § 178E