Massachusetts § 19 - Deferred payments or instalments
Full text of Massachusetts Massachusetts General Laws § 19 — Deferred payments or instalments, with citation guidance and answers to common questions.
§ 19. Deferred payments or instalments
Section 19. Deferred payments or instalments of claims shall be considered as fixed liabilities on the happening of the contingency upon which such payments or instalments are thereafter to be paid. Such liability shall be the present value of such future payments or instalments upon the rate of interest and mortality assumed by the society for establishing contributions and for valuation; and every society shall at once, upon the filing of due proofs of the happening of the contingency, set apart a fund to meet such deferred payments, regardless of proposed future collections to meet any such payments, and hold such fund, with its interest accretions, in trust for the beneficiary entitled thereto.
No society shall provide for such deferred payments or instalments unless it possesses the full reserve specified in the following section, or, if paying accident benefits only, has assets sufficient to pay all its liabilities.
Frequently Asked Questions About Massachusetts § 19
What does Massachusetts General Laws § 19 cover?
Section 19 ("Deferred payments or instalments") 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 § 19?
A common citation format is "Massachusetts General Laws § 19" (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 § 19 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.