Section 16. A fund is hereby declared to be a charitable and benevolent institution, and all of its assets shall be exempt from all and every state, county, district, municipal and school tax, if all of its participants qualify for exemption from federal taxes under 26 U.S.C. Section 501, or qualify for the exclusion from gross income provided under 26 U.S.C. Section 115.
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