Section 12. The trust instrument may provide (a) that there shall be a minimum period during which any participant must participate in the fund; (b) that the fund may provide tail coverage to any participant which joins or withdraws from the fund; (c) that all participants shall execute a participation agreement; (d) that the trustee shall be free of all personal liability for his actions in good faith on behalf of the fund; and (e) that the trustee may be either an individual or an institution such as a bank, an insurance company or any other appropriate entity.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 175f - Medical Malpractice Self-Insurance Trust Funds
Section 3 - Application for Certification; Denial; Approval
Section 4 - Application of Chapter
Section 5 - Rights, Obligations and Responsibilities of Fund and Trustee
Section 6 - Annual Statement of Financial Condition; Penalty for Failure to File
Section 7 - Standards for Proper Accounting Methods to Be Used
Section 10 - Revocation or Suspension of Certification of Fund; Removal of Trustee
Section 12 - Trust Instrument Provisions
Section 13 - Merger or Consolidation of Funds
Section 14 - Legal Requirement of Insurance or Commercial Insurance
Section 15 - Liability of Fund
Section 16 - Fund Declared to Be Charitable and Benevolent Institution; Exemption From Taxes