Last edited by Sagal
Friday, February 14, 2020 | History

3 edition of Massachusetts Bonding & Insurance Co. found in the catalog.

Massachusetts Bonding & Insurance Co.

United States. Congress. House. Committee on Claims

Massachusetts Bonding & Insurance Co.

  • 153 Want to read
  • 13 Currently reading

Published by [s.n.] in Washington .
Written in English

    Subjects:
  • United States. -- Congress -- Private bills,
  • Bills, Private -- United States,
  • United States -- Claims

  • Edition Notes

    Other titlesRelief of Massachusetts Bonding and Insurance Company
    SeriesH.rp.737
    The Physical Object
    FormatElectronic resource
    Pagination3 p.
    ID Numbers
    Open LibraryOL18306236M

    By the time MassMutual was established, 9, miles 14, km of functioning railroad lines had been built, giving MassMutual the opportunity to establish agencies in New York City, Cleveland, Chicago, and Detroit by Integrity and honesty is another factor that drives our decision to stay with Berry. In the case just cited the collection and disbursements of the funds in question were improper and illegal because performed without compliance with the provisions of the governing statute. For a proper understanding of these allegations, a few facts concerning the rate method employed by the commissioner will be helpful. This court is given jurisdiction in equity to modify, amend, annul, reverse or affirm any decision or order of the commissioner and to review all questions of law and fact involved therein. In the matter of those legally employed, even if a deficit had been created by the payments made to them, in fact even had no appropriation been made for their compensation, had they not been paid, they could have enforced payment by the plaintiff.

    One method that may be taken to enhance credit is bond insurance, which generally results in the rating of the insured security being the higher of the claims-paying rating of the insurer and the rating the bond would have without insurance, also known as the underlying rating. McCormack, Ky. The assessor, however, had not received the required order from the moderator. The court shall have jurisdiction in equity to modify, amend, annul, reverse or Page affirm such action, order, finding or decision, shall review all questions of fact and of law involved therein and may make any appropriate order or decree.

    Jackson and I. The evidence was competent upon the question as to the amount for which execution should issue, just as was the evidence introduced by the defendants, to their advantage, Page that certain persons to whom payments had been made by Flood were legally employed. Bess, U. Fago, the bankrupt's principal shareholder and president, gave the surety a collateral mortgage on certain real property which he owned. In the late s and early s, a new group of bond insurers emerged.


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Massachusetts Bonding & Insurance Co. book

Hoffman v. In that case the State presented a claim for franchise taxes against the receivers of an insolvent corporation. In filling the gap, Congress was concerned only to provide for recovery against the United States for wrongful deaths in Massachusetts and Alabama and to provide for recovery, as did the original Act, on a compensatory not a punitive basis.

Rates not sufficient to yield such return are unjust, unreasonable and confiscatory. True, as has often been said, the fixing of rates is a legislative rather than a judicial function.

Involved are claims of the United States for unpaid withholding, social security, and unemployment taxes, claims of the State of New York for unpaid franchise, motor fuel, and unemployment insurance taxes, and two claims of Massachusetts Bonding and Insurance Company, a surety on two contracts performed in part by the bankrupt.

It may well be that if Massachusetts were to enact a statute restricting recovery to compensatory damages, it would impose a different ceiling. It does not mulct in punitive damages the official who satisfies valid obligations of the city, though in a manner not in accordance with the requirements of the statutes.

It is to the effect that moneys disbursed in an unlawful manner by the wrongdoing official are paid out at his peril; that he, together with his sureties, shall be liable to the extent of the loss caused to the municipality; that, however, where the payments are made in a manner violating the procedure prescribed by statute, but in discharge of valid obligations of the municipality, since no loss has been suffered by it, no recovery shall be had; but that where money thus illegally paid has been expended in satisfaction of contracts which created no liability on the part of the municipality but were void, the official and his sureties are bound to make good the sums so paid, notwithstanding that full value was received through the materials and services furnished, and that such payments may be truly accounted as a loss to the municipality since it was under no obligation to make them.

There was no allegation that any of the defendants executed the surety bond or that any of them was being sued as a surety rather than as a principal. It should be noted that subdivision c of rule 15 of the Federal Rules of Civil Procedure, which adopts the modern rule, does not use the term "cause of action" and [56 Cal.

George F. But it does not contravene the principle of separation of powers for the Legislature to provide a review in rate cases where confiscation is not the issue. The term monoline does not mean that insurers operate only in one securities market, such as municipal bonds, as the term has sometimes been misconstrued.

The resulting lack of symmetry in the operation of the Act as between Massachusetts and the other States having death recovery maxima, seems to me no greater than it is as between such States and those which impose no monetary limitation on death recoveries. Logan County, Ky. The Court of Appeals suggests that if the Massachusetts 'punitive' maximum were not applicable, the Government would be put at a unique disadvantage in Massachusetts, since the death statutes of some twelve other States place limitations on recovery which concededly would be applicable to the United States under the provisions of the Tort Claims Act.

Requirements vary on carriers, specific situations should be discussed with your client manager. It was there held, however, that unless the funds were devoted to an illegal purpose the Commonwealth was not entitled after disbursement to recover from an officer the funds he may thus have expended; and that, the funds in question having been devoted to the purposes for which they were appropriated, and the State having received the benefits contemplated from that expenditure, the funds so disbursed could not be recovered from the official even though he might have failed to observe the strict letter of the law with reference to the manner of their disbursement.

Sampsell, 9 Cir. For example, you own a home on Cape Cod and would like to rent it out for the summer in weekly increments. Financial Security Assurance Inc. The allegations of this petition challenge the propriety of the commissioner's selection of a loss level in fixing the premium charges for The plaintiff moved to strike from the report all findings relative to the value or benefit of work performed in return for the payments in question, and to "unmade" transfers from the macadam sidewalk appropriation to street maintenance appropriation, and objected to their admission in evidence.

The bond provides that any person who sustains an injury covered by it may bring an action on the bond within two years from the time the act or default complained of occurred.

Since the Government is by the very statute made liable on a different basis than a private individual and will in every case pay a different amount than would a private individual, why does it offend the philosophy of the Act to make the Government liable for more than a private individual would pay?

In Alabama, however, there was no maximum limitation on the recovery, and the problem of this case-whether a recovery in excess of the statutory maximum recoverable against a private employer can be had against the United States-is therefore unique to recovery against the United States under the Massachusetts Death Act.

Two judges, however, dissented because they did not concur in the reasoning of the majority, pointing out that the Indiana statute, which declares that such expenditures "shall be deemed by the board a balance of such fund unexpended in the hands of the trustee, for which he shall be liable upon his bond," had been repealed by judicial fiat, and that the opinion of the majority resulted in the anomaly that the furnishers of labor and material Page under the void contracts could not recover from the city, but that nevertheless the money paid out on the contracts could not be recovered from the one making the payment.

Overseers of Public Welfare in Boston, Mass. If in any subsequent proceeding the defendants could recover from the city for payments made as aforesaid, we think that they would be entitled to set up those payments in the proceedings for determination of what amount execution should issue in equity and good conscience.

An mendment is part of the legislation it amends.It repeats substantially the allegations of the original complaint as to the plaintiffs who have appealed, substitutes Massachusetts Bonding for one of the defendants designated by a fictitious name, alleges that Massachusetts Bonding executed the surety bond, makes the bond a part of the pleading, and adds allegations of fraudulent conduct by.

We're With You

Surety bonds are an important risk mitigation tool, but it’s essential to know that insurance and surety bonds are two different types of tools.

The terms “surety bond,” “surety bond insurance,” and “surety insurance” are often used interchangeably, causing some confusion for consumers. The corporate defendants in this case are two insurance companies which had issued automobile liability policies.

Massachusetts Bonding and Insurance Company, hereinafter referred to as Mass. Bonding, was the insurer for Porto Transport, Inc., a trucking company and common carrier hereinafter referred to as. Lance Surety Bonds offers exclusive offers for all Massachusetts surety bonds thanks to our partnership with America’s most reputed A-rated and T-listed surety bond atlasbowling.comr you need a license bond, a contract bond, or a court bond in Massachusetts, our experts can help you get bonded, and work with you on getting a low premium.

As a Massachusetts business owner you may need to obtain a bond to conduct business. Bonds are also known as financial guarantee insurance. The insurance company promises to pay an amount of money if there is an event that causes a financial loss.

Massachusetts Bonding and Insurance Company and United States of America, Claimants-appellants, v. State of New York, atlasbowling.com Re Fago Construction Corporation, Bankrupt, F.2d 33 (2d Cir.

) case opinion from the US Court of Appeals for the Second Circuit.