Mass. Gen. Laws ch. 63 § 29B

Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session
Section 63:29B - Taxation of reciprocal or inter-insurance exchange agents

Every attorney in fact of a reciprocal or inter-insurance exchange defined in section ninety-four A of chapter one hundred and seventy-five and authorized to transact business in the commonwealth under the provisions of sections ninety-four A to ninety-four M, inclusive, of said chapter, shall be subject to the provisions of sections twenty-two to twenty-nine, inclusive, and section twelve of chapter sixty-two C unless said provisions and their context clearly show that said provisions were not intended to apply to the plan and method of exchanging reciprocal or inter-insurance contracts; provided, that the word "premiums" in section twenty-two and section twenty-three shall, with respect to reciprocal or inter-insurance exchanges, mean "premium deposits"; and provided, further, that in section twenty-four, the word "premiums", shall be construed to mean, when applied to reciprocal or inter-insurance exchanges, premium deposits credited or returned to subscribers.

Mass. Gen. Laws ch. 63, § 29B