AN ACT AUTHORIZING NONPROFIT HOSPITAL SERVICE CORPORATIONS AND NONPROFIT MEDICAL SERVICE CORPORATIONS TO MAKE CONTRACTS OF REINSURANCE.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Chapter 176A of the General Laws is hereby amended by inserting after section 1C the following section:-
Section 1D. Any corporation subject to this chapter may make contracts of reinsurance relating to the providing of medical or other health services or reimbursement thereof, but the costs of such reinsurance shall not inure to or otherwise affect the premiums charged for any policy offered, sold, issued or delivered by the corporation pursuant to chapter 176K or for any nongroup health plan offered, sold, issued or delivered by the corporation pursuant to chapter 176M.
SECTION 2. Chapter 176B of the General Laws is hereby amended by inserting after section 3 the following section:-
Section 3A. Any corporation subject to this chapter may make contracts of reinsurance relating to the providing of medical or other health services or reimbursement thereof, but the costs of such reinsurance shall not inure to or otherwise affect the premiums charged for any policy offered, sold, issued or delivered by the corporation pursuant to chapter 176K or for any nongroup health plan offered, sold, issued or delivered by the corporation pursuant to chapter 176M.