Massachusetts General Laws ch. 175 sec. 78 – Mutual fire companies; laws applicable; records; perjury; inspection; jurisdiction
Section 78. Such companies shall be subject to the first paragraph of section fifty-eight, except that a treasurer shall be chosen, to the first paragraph of section fifty-nine, and to the first and third paragraphs of section sixty.
Terms Used In Massachusetts General Laws ch. 175 sec. 78
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
The secretary shall keep a record of the votes, which shall show whether cast in person or by proxy; a record of all other proceedings of all meetings of the directors or the members; a record of all policies issued and of all authorized assignments, transfers and cancellations thereof, and such other books and records as the president and directors may require. The records so kept shall be evidence of all elections and of the transactions to which they relate, and shall be open to the inspection of any interested person. A secretary who wilfully makes a false record shall be deemed guilty of perjury.
It shall be a defense in any proceeding for neglect or refusal to exhibit for inspection such records or copies that the actual purpose and reason for the inspection sought are to secure a list of policyholders or other information for the purpose of selling said list or information or copies thereof or of using the same for a purpose other than in the interest of the applicant, as a member or policyholder, relative to the affairs of the corporation. The supreme judicial or superior court shall have jurisdiction in equity, upon application of any interested person, to order any or all of said copies or records to be exhibited in legible form to him and to such other persons as may become parties to said petition at such a place and time as may be designated in the order.