[Text of section effective until December 28, 2007. For text effective December 28, 2007, see below.]
Section 10. The funds of a dental service corporation shall be invested only in such securities as are permitted by chapter one hundred seventy-five for the investment of the capital of insurance companies, except that not more than five per cent of its invested assets, exclusive of real estate occupied by itself for the transaction of business, may be invested in mutual funds, or it may deposit the whole or any portion of its funds in any savings bank or savings account in a trust company organized under the laws of the commonwealth or a national banking association. It shall have the right to acquire and own real estate to be occupied by itself in the transaction of its business. The commissioner may require any such corporation after the first full calendar year of doing business to accumulate and maintain a special contingent surplus, over and above its reserves and liabilities, in such amount as the commissioner may deem proper.
Chapter 176E: Section 10. Investment of reserves; acquisition of real property; special contingent surplus; investment of other funds
[Text of section as amended by 2007, 219 effective December 28, 2007. For text effective until December 28, 2007, see above.]
Section 10. The reserves of a dental service corporation shall be invested only in such securities as are permitted under chapter 175 for the investment of the reserves of insurance companies. A dental service corporation shall have the right to acquire and own real estate to be occupied by itself in the transaction of its business. The commissioner may require any such corporation after its first full calendar year of doing business to accumulate and maintain a special contingent surplus, over and above its reserves and liabilities, in such amount as the commissioner may deem proper. All other funds of a dental service corporation shall be invested only as is permitted by chapter 180A for the investment of institutional funds.