Mass. Gen. Laws ch. 161 § 126
Any company desiring to accept said sections shall apply to the department to determine the amount of its capital investment and of its stock investment, and upon such determination the company may accept said sections by filing with the department its election so to do, authorized by a vote of not less than a majority of its capital stock, and evidence satisfactory to the department that it has provided or will provide the reserve and improvement funds mentioned in sections one hundred and seventeen and one hundred and twenty-two.
The department may permit any company desiring to operate under said sections to begin operations before the determination of its capital investment and of its stock investment; provided, that the company has met all the other requirements of said sections, but no dividends shall be disbursed to the holders of any common stock until after said determination has been made.
Mass. Gen. Laws ch. 161, § 126