Massachusetts General Laws ch. 167 sec. 15J – Investment in capital stock of insurance company conducting fire and casualty insurance business
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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.
Terms Used In Massachusetts General Laws ch. 167 sec. 15J
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.