No policy shall be issued by a mutual company formed to transact business under the seventh, eighth, ninth, tenth, twelfth or thirteenth clause of section forty-seven until it has secured applications for insurance upon not less than two hundred separate risks in the commonwealth against the hazards specified in said clause, the premiums on which shall amount to not less than twenty-five thousand dollars.
Mass. Gen. Laws ch. 175, § 93A
Miscellaneous mutual companies; issuance of policies
Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.