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By Mr. Mariano of Quincy, petition (accompanied by bill, House, No. 1011) of Ronald Mariano relative to the payment of fire insurance claims on real estate losses. Financial Services. |
The Commonwealth of Massachusetts
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PETITION OF:
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By Mr. Mariano of Quincy, petition (accompanied by bill, House, No. 1011) of Ronald Mariano relative to the payment of fire insurance claims on real estate losses. Financial Services. |
The Commonwealth of Massachusetts
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PETITION OF:
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In the Year Two Thousand and Seven.
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Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 97 of Chapter 175 of the General Laws, as appearing in
the 2004 Official Edition, is hereby amended by inserting at the end thereof the following:
Notwithstanding any provision in this chapter to the contrary, no such mortgagee or mortgagees shall be entitled to payment of a claim for a loss or covered real estate which equals less than ten thousand dollars, and for which such mortgagee or mortgagees are otherwise entitled to payment.