An Act to provide prompt payment following settlement by insurance company

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act to provide prompt payment following settlement by insurance company

An Act to provide prompt payment following settlement by insurance company By Representative Roy of Franklin, a petition (accompanied by bill, House, No.

What This Bill Does

• An Act to provide prompt payment following settlement by insurance company By Representative Roy of Franklin, a petition (accompanied by bill, House, No.
• 1303) of Jeffrey N.
• Roy relative to payments following settlements by insurance companies.
• Financial Services.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

An Act to provide prompt payment following settlement by insurance company
By Representative Roy of Franklin, a petition (accompanied by bill, House, No. 1303) of Jeffrey N. Roy relative to payments following settlements by insurance companies. Financial Services.

Current Bill Text

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Bill H.1303

Chapter 175 of the General laws is hereby amended by inserting the following Section 113A:

When an action to recover damages has been settled, any insurer which has agreed to pay all or part of the settlement on behalf of a settling defendant, shall pay the amount due to any settling plaintiff within twenty-one days of tender by the settling plaintiff to the settling defendant of a duly executed release executed.

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