Section 12B: Reciprocal insurance contracts; exchanges
79 words·~1 min read·
/ma/part-i/title-xxii/chapter-155/12b·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 12B. Any corporation organized or to be organized under the laws of the commonwealth shall have full power and authority to participate as a subscriber in the exchanging of insurance contract specified in section ninety-four B of chapter one hundred and seventy-five. The right to participate in the exchanging of such contracts shall be deemed to be incidental to the purposes for which such corporation was organized, and as much granted as the rights and powers expressly conferred.