Massachusetts § 94F Examination of application and declaration by commissioner; issuance of license to transact business

Massachusetts Statutes

§ 94F — Examination of application and declaration by commissioner; issuance of license to transact business

Massachusetts § 94F

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 175INSURANCE

This text of Massachusetts § 94F (Examination of application and declaration by commissioner; issuance of license to transact business) 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, § 94F (2026).

Text

Section 94F. The commissioner shall examine the application and declaration and all documents filed in connection therewith; and, if he is satisfied that they comply with the law and that the allegations of fact contained therein are true, he shall issue to the attorney in fact a license to transact business, authorizing him to execute for the subscribers under the name designated, such contracts of reciprocal or inter-insurance as are authorized by this chapter, which license shall be subject to section five; provided, however, that no license for a reciprocal insurance exchange consisting of subscribers who are commercial fishing boat owners shall be issued until the applicant has submitted to the commissioner the standards of risk management to be used in evaluating admissions and polic

Free access — add to your briefcase to read the full text and ask questions with AI

Section 94F. The commissioner shall examine the application and declaration and all documents filed in connection therewith; and, if he is satisfied that they comply with the law and that the allegations of fact contained therein are true, he shall issue to the attorney in fact a license to transact business, authorizing him to execute for the subscribers under the name designated, such contracts of reciprocal or inter-insurance as are authorized by this chapter, which license shall be subject to section five; provided, however, that no license for a reciprocal insurance exchange consisting of subscribers who are commercial fishing boat owners shall be issued until the applicant has submitted to the commissioner the standards of risk management to be used in evaluating admissions and policy renewals, and until such standards have been certified by the commissioner as being reasonably calculated to provide a risk low enough to permit the reciprocal insurance exchange to remain solvent.