Massachusetts General Laws

Mass. Gen. Laws ch. 175, § 32 (2026)

Commencement of domestic company business; certificate; conditions precedent

✓ current as of July 2026

Find cases: SyfertCases citing this section MAmalegislature.gov (official) JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

Section 32. No domestic company shall make or issue any contracts or policies of insurance or annuity or pure endowment contracts until it has obtained from the commissioner a certificate, in such form as he may prescribe, stating that the company has complied with the conditions set forth in this section and all other provisions of law, and authorizing it to make or issue such policies or contracts. No such certificate shall be issued until the commissioner is satisfied, by such examination as he may make and such evidence as he may require, that the company has complied with the laws of the commonwealth, adopted a proper system of accounting, and employed a competent accountant, a competent claim manager and a competent and experienced underwriter, nor until the commissioner is satisfied, by such examination as he may make and by an affidavit filed with him as required under section four and by such other evidence as he may require, that the company is without liabilities, except such organization expenses as the commissioner shall approve as reasonable, and except, in the case of a stock company or a mutual company with a guaranty capital, its liabilities to stockholders for the amount paid in for shares of stock, nor, in the case of a life company, until he is satisfied, by such examination as he may make and such evidence as he may require, that the company has employed a competent and experienced actuary, and that its officers and directors are of good repute and competent to manage a life company; provided, that if the commissioner is of the opinion that the granting of such a certificate to any company would, in any case, be prejudicial to the public interest, he may in his discretion refuse to issue it.

Notes of Decisions

Cited in 4 cases, 1971–2006 · leading case: Goldstein v. Sav. Bank Life Ins., 435 Mass. 760 (Mass. 2002).

Sort: Relevance Newest Treatment

Goldstein v. Sav. Bank Life Ins., 435 Mass. 760 (Mass. 2002). “178A], [she] shall approve said plan and issue to the company the certificate required by [G. L. c. 175, § 32,] to be effective as of the close of business on [December 31, 1991].”

Opinion of the Justices to the House of Representatives, 515 N.E.2d 1169 (Mass. 1987). “Upon the issuance to the company by the commissioner of a certificate required by G. L. c. 175, § 32, the company would immediately assume all of the assets (including any surplus), rights and interests and all of the obligations and liabilities of the insurance departments of…”

Rockland Mut. Ins. v. Comm'r of Ins., 277 N.E.2d 493 (Mass. 1971). “) seeks a writ of mandamus to compel the commissioner to amend Rock-land’s certificate of authority (see G. L. c. 175, § 32, as amended through St.”

Goldstein v. Sav. Bank Life Ins., 21 Mass. L. Rptr. 204 (Mass. Super. Ct. 2006). “178A], [she] shall approve said plan and issue to the company the certificate required by [G.L.c. 175, §32,] to be effective as of the close of business on [December 31, 1991].”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.