This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Bylaws Of Homeowners Without Insurance In Massachusetts
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FAIR Plans Fair Access to Insurance Requirements (FAIR) Plans were created in the 1960s to make insurance available in areas that had abnormally high exposure to risks over which they had no control. These plans are insurance pools that sell property insurance to people who can't get coverage in the voluntary market.
Required Coverage Required CoverageRequired Minimum Limit Bodily Injury to Others $20,000 per person; $40,000 per accident Personal Injury Protection $8,000 per person, per accident Bodily Injury Caused by an Uninsured Auto $20,000 per person; $40,000 per accident Damage to Someone Else's Property $5,000 per accident
Massachusetts law requires that all residents have health insurance, and you may face tax penalties if you are uninsured or your insurance coverage does not meet state coverage standards. For more information on the penalty you can contact the Department of Revenue (DOR) at 800-392-6089.
Whether or not you have to file a Massachusetts personal income tax return, anyone 18 years old or over must get and maintain creditable health insurance coverage as long as it's considered affordable under the schedule set by the Massachusetts Health Connector. This includes those who are exempt from filing taxes.
What Are My Rights as a Condo Owner? As a condo owner, you have the right to use your unit as provided in the master deed – if it's a residential inium unit – in a way that allows you to maintain a reasonable standard of living as required by Massachusetts health, safety and building laws.
Finally, the Massachusetts Property Insurance Underwriting Association (MPIUA), also known as the FAIR Plan, is the insurer of last resort if you cannot find any company willing to write your policy.
Up to one year in jail. A fine of $500 up to $5000. A suspended driver's license of 60 days.