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Section 30 - Licensing of Foreign or Alien Societies

MA Gen L ch 176 § 30 (2019) (N/A)
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Section 30. No foreign or alien society shall transact business in the commonwealth without a license issued by the commissioner. Any such society may be licensed to transact business in the commonwealth upon filing with the commissioner—

(a) A duly certified copy of its charter or articles of incorporation;

(b) A copy of its constitution and by-laws, certified by its secretary or corresponding officer;

(c) A power of attorney to the commissioner as prescribed in section thirty-six;

(d) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province or country, satisfactory to the commissioner;

(e) A certificate from the proper official of its home state, territory, province or country that the society is legally incorporated and licensed to transact business therein;

(f) Copies of its certificate forms; and

(g) Such other information as he may deem necessary—and upon a showing that its assets are invested in accordance with the provisions of this chapter.

Any foreign or alien society desiring admission to this commonwealth shall have the financial qualifications required of domestic societies organized under this chapter.

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