DREBEN, J.
The question before us is whether a custodial account approved as an investment by the Internal Revenue Service and hence authorized by the first sentence of G.L.c. 71, § 37B, must be purchased from "an insurer authorized to issue life insurance or annuity contracts in the commonwealth" (fourth sentence of G.L.c. 71, § 37B [see note 2, infra]).
The plaintiff, a school psychologist in Worcester, sought to invest in a tax-deferred...
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