Section 31. Any corporation subject to this chapter may contract with any person for the purpose of providing administrative or other services relating to the providing of hospital or other health services or reimbursement therefor. In addition, with the approval of the commissioner of insurance who shall consider the effect upon subscriber agreements and subscriber rates, a hospital service corporation may, after being authorized by its board of directors or by a committee thereof charged with the duty of authorizing transactions under this section, make loans to, guarantee loans of, make investments in hospitals and providers of other health services for the purpose of improving efficiency, reducing costs, or increasing benefits in the delivery of health services to subscribers and others.

Terms Used In Massachusetts General Laws ch. 176A sec. 31

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
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