Massachusetts § 93B Mutual surety, liability and casualty companies; issuance of policies; condition precedent

Massachusetts Statutes

§ 93B — Mutual surety, liability and casualty companies; issuance of policies; condition precedent

Massachusetts § 93B

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 175INSURANCE

This text of Massachusetts § 93B (Mutual surety, liability and casualty companies; issuance of policies; condition precedent) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mass. Gen. Laws ch. 175, § 93B (2026).

Text

Section 93B. No policy shall be issued by a mutual company formed to transact business under clause (d) of section forty-eight A until it has secured the applications for insurance required by sections ninety-two, ninety-three and ninety-three A, or any of them, in respect to the classes of business which it proposes to transact, nor, if it proposes to transact business under clause fourth of section forty-seven, until it has established the fully paid-up guaranty capital required by section ninety B, nor, if it proposes to transact business under subdivision (b) of clause sixth of section forty-seven, until it has established the fully paid-up guaranty capital required by section ninety-three.

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Section 93B. No policy shall be issued by a mutual company formed to transact business under clause (d) of section forty-eight A until it has secured the applications for insurance required by sections ninety-two, ninety-three and ninety-three A, or any of them, in respect to the classes of business which it proposes to transact, nor, if it proposes to transact business under clause fourth of section forty-seven, until it has established the fully paid-up guaranty capital required by section ninety B, nor, if it proposes to transact business under subdivision (b) of clause sixth of section forty-seven, until it has established the fully paid-up guaranty capital required by section ninety-three.