|TO:||Insurers, Licensees and Interested Parties|
|FROM:||Linda Ruthardt, Commissioner of Insurance|
|DATE:||June 9, 2000|
|RE:||Chapter 96 of the Acts of 2000 - An Act Relative to Countersignatures by Resident Agents on Certain Insurance Policies|
|Please be advised that on June 2, 2000 Governor Cellucci signed into law Chapter 96 of the Acts of 2000. Effective September 1, 2000, this law eliminates the countersignature requirement for insurance policies issued or delivered in Massachusetts by non-Massachusetts insurance companies. The law that specifically required such countersignatures, M.G.L. Chapter 175, § 157, will be repealed upon the effective date of Chapter 96. Furthermore, M.G.L. Chapter 175, § 99 will be amended so that insurance companies will no longer have the option of including the following language in fire insurance policy forms:|
"This policy shall not be valid unless countersigned by the duly authorized agent of the company at _______";
"Countersigned at _____, this _____ day of _______, 19___. _______ Agent";
"In witness whereof, the said ________ company has caused this policy to be signed by its resident manager in the United States at their office in _______ (date)".
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