In re Electric Mutual Liability Insurance

At issue is the interpretation of G. L. c. 175, § 49A, which authorizes a domestic insurer to “transfer its domicile to any other state.” The Commissioner of Insurance (commissioner) authorized a domestic insurance company to transfer its domicil to Bermuda. Subsequently the commissioner filed a petition pursuant to G. L. c. 175, 180C (entitled “Liquidation of Domestic Company”) in the county court seeking to be appointed the United States receiver (U.S. receiver) of that insurance company. The commissioner contends that a proper interpretation of the word “state” in § 49A refers to foreign…