The 188th General Court of
The Commonwealth of Massachusetts
The Commonwealth of Massachusetts
Session Laws
CHAPTER 333 AN ACT FURTHER REGULATING THE AMOUNT OF INTEREST CERTAIN INSURANCE COMPANIES MAY CHARGE ON CERTAIN MOTOR VEHICLE INSURANCE.
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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:
Chapter 175 of the General Laws is hereby amended by inserting after section 193B, as appearing in the 1984 Official Edition, the following section:-
Section 193B 1/2. Any insurance company which accepts payments of motor vehicle insurance premiums in installments shall calculate the interest charge only on the unpaid balance due as of the billing date.