Massachusetts § 160B - Publication of notice by commissioner of unlicensed foreign company or fraternal benefit society

§ 160B. Publication of notice by commissioner of unlicensed foreign company or fraternal benefit society

Section 160B. The commissioner may, if it appears to him that any foreign company or fraternal benefit society not duly licensed to transact business in this commonwealth is issuing policies of insurance, annuity or pure endowment contracts or benefit certificates to residents thereof, or is seeking to induce such residents by advertisements printed, published or distributed therein through the mails or otherwise, or by any other means, to take out its policies, contracts or certificates, or to solicit or act in the solicitation of applications for, or to negotiate, effect or procure, or act or aid in the negotiation, effecting or procurement of, such policies, contracts or certificates or to collect premiums thereon, cause notice to be published in such manner and form as he may deem proper, setting forth the name of the company or society, the location, if known, of its home or principal office, the fact that such company or society is not licensed to transact business in the commonwealth and is not amenable to suit in the courts of this commonwealth to enforce claims under its policies, contracts or certificates, together with any other pertinent facts of which he may be cognizant or information that he may possess relative to the financial standing or stability, business policies, methods, operations, management or reliability of the company or society.