Massachusetts § 15J Investment in capital stock of insurance company conducting fire and casualty insurance business

Massachusetts Statutes

§ 15J — Investment in capital stock of insurance company conducting fire and casualty insurance business

Massachusetts·Part I ADMINISTRATION OF THE GOVERNMENT·Title XXII CORPORATIONS·Ch. 167 SUPERVISION OF BANKS

Section 15J. An entity that may invest pursuant to section 15A or the legal list may invest in the capital stock of any insurance company that may conduct a fire and casualty insurance business; provided, however, that no insurance stock shall be purchased if the cost of the insurance stock added to the cost of insurance stocks and bank stocks already owned shall exceed 662/3 per cent of the total of the assets of the entity.

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Section 15J. An entity that may invest pursuant to section 15A or the legal list may invest in the capital stock of any insurance company that may conduct a fire and casualty insurance business; provided, however, that no insurance stock shall be purchased if the cost of the insurance stock added to the cost of insurance stocks and bank stocks already owned shall exceed 662/3 per cent of the total of the assets of the entity.

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