Massachusetts § 162B - Agents and brokers; power to accept installment premiums
Full text of Massachusetts Massachusetts General Laws § 162B — Agents and brokers; power to accept installment premiums, with citation guidance and answers to common questions.
§ 162B. Agents and brokers; power to accept installment premiums
Section 162B. Insurance agents and brokers may accept payment of insurance premiums in installments to be evidenced by notes or other appropriate instruments running from the insured to the agent or broker; provided, however, that payment of insurance premiums in installments to be evidenced by notes or other appropriate instruments running from the insured to the agent or broker on contracts of insurance, which contracts are primarily for personal, family or household purposes, shall be made under rates, charges and regulations established after public hearing, as equitable and nondiscriminatory, by a board consisting of the attorney general, the insurance commissioner and the commissioner of banks or their respective designees.
For purposes of financing insurance premiums and the subsequent sale or other negotiation of any such note or instrument to a third party, insurance agents and brokers shall be considered to be sellers of insurance.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 162B
What does Massachusetts General Laws § 162B cover?
Section 162B ("Agents and brokers; power to accept installment premiums") is part of the Massachusetts General Laws, the codified statutory law of Massachusetts. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Massachusetts § 162B?
A common citation format is "Massachusetts General Laws § 162B" (Massachusetts). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Massachusetts law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Massachusetts official source linked on this page or consult a licensed Massachusetts attorney.
How does Massachusetts § 162B apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Massachusetts can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Massachusetts.