Massachusetts § 177R - Reinsurance intermediary broker license required; employment restrictions; annual financial statements
Full text of Massachusetts Massachusetts General Laws § 177R — Reinsurance intermediary broker license required; employment restrictions; annual financial statements, with citation guidance and answers to common questions.
§ 177R. Reinsurance intermediary broker license required; employment restrictions; annual financial statements
Section 177R. (A) An insurer shall not engage the services of any person, firm, association or corporation to act as a reinsurance intermediary broker on its behalf unless such person is licensed as required by section one hundred and seventy-seven O.
(B) An insurer may not employ an individual who is employed by a reinsurance intermediary broker with which it transacts business, unless such reinsurance intermediary broker is under common control with the insurer and subject to sections two hundred and six to two hundred and six D, inclusive.
(C) The insurer shall obtain a copy of the current annual statement of financial condition or documents providing similar information for each reinsurance intermediary broker with which it transacts business.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 177R
What does Massachusetts General Laws § 177R cover?
Section 177R ("Reinsurance intermediary broker license required; employment restrictions; annual financial statements") 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 § 177R?
A common citation format is "Massachusetts General Laws § 177R" (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 § 177R 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.