General Laws of Massachusetts (Last Updated: January 16, 2020) |
PART I ADMINISTRATION OF THE GOVERNMENT |
TITLE XXII. CORPORATIONS |
CHAPTER 167. SUPERVISION OF BANKS |
SECTION 1. Definitions |
SECTION 1A. Rules and regulations |
SECTION 1B. Repealed, 2014, 482, Sec. 13 |
SECTION 2. Examination of banks |
SECTION 2A. Definitions applicable to Secs. 2A to 2G; unfair practices involving consumer transactions; rules and regulations |
SECTION 2B. Investigation of unfair practices |
SECTION 2C. Proceedings regarding unfair practices; notice; hearing |
SECTION 2D. Unfair practices; findings; cease and desist orders; penalty; modification of order |
SECTION 2E. Review of cease and desist orders; civil liability |
SECTION 2F. Violations of cease and desist orders; penalties |
SECTION 2G. Penalties for unfair practices; enforcement |
SECTION 2H. Notice to commissioner of activity or investment of savings bank, co-operative bank or trust company; waiver or extension of notice period |
SECTION 2I. Compliance with federal laws and regulations |
SECTION 2J. Confidentiality of information provided in applications filed with commissioner |
SECTION 3. Meetings of board of directors or board of trustees of bank; reports on bank examinations; records; certificates |
SECTION 4. Summoning and examination of bank officers |
SECTION 5. Request for bank examination |
SECTION 6. Manner and form of books and accounts; manner of safeguard and deposit of money and securities |
SECTION 6A. Copies of agreements concerning Federal Reserve regulations and operating letters, clearing house rules, etc.; rules and regulations |
SECTION 7. Statements and reports required by commissioner or by law |
SECTION 8. Failure to make or amend return, statement or report |
SECTION 9. Destruction or disposal of records, etc.; payment of proceeds |
SECTION 10. Reports of fraud, embezzlement or misconduct by bank officers or employees |
SECTION 11. Shortages in funds; reports; fine |
SECTION 12. Misconduct by bank officers; suspension; removal |
SECTION 12A. Criminal charges against bank officers; suspension or removal from office |
SECTION 13. Annual reports |
SECTION 14A. Mortgage review boards; members; terms; appointment; meetings; rules and regulations |
SECTION 14B. Repealed, 1996, 359, Sec. 4 |
SECTION 14C. Small business loan review boards; members; terms; appointment; meetings; rules and regulations |
SECTION 15. Annual list to investment committee of banks meeting local community needs |
SECTION 15A. Annual list of legal investments |
SECTION 15B. Inclusion of certain investments in list of legal investments upon approval by commissioner; application by credit union; refunding bonds |
SECTION 15C. Classes of bonds, notes or other interest-bearing federal, state and international obligations in which entity may invest |
SECTION 15D. Classes of bonds, notes or other interest-bearing municipal obligations in which entity may invest |
SECTION 15E. Investment in bonds, notes or other interest-bearing obligations of railroad corporations |
SECTION 15F. Investment in bonds of company engaged in the business of furnishing telephone service |
SECTION 15H. Investment in common stock of banking corporations and bank holding companies |
SECTION 15I. Purchase of stock of savings or co-operative bank, federal savings and loan association or federal saving bank |
SECTION 15J. Investment in capital stock of insurance company conducting fire and casualty insurance business |
SECTION 15K. Classes of securities in which entity may invest |
SECTION 16. Repealed, 1987, 296, Sec. 1 |
SECTION 17. Repealed, 1996, 359, Sec. 5 |
SECTION 18. Appraisal of real estate in case of excessive loan |
SECTION 19. Losses of bank exceeding surplus and other reserve accounts |
SECTION 20. Verification of savings accounts |
SECTION 21. Closing of banks |
SECTION 21A. Assent to and participation in bank reorganization by government officers |
SECTION 22. Taking possession of property and business of bank by commissioner |
SECTION 23. Notice of taking possession of bank by commissioner |
SECTION 24. Collection of moneys due and liquidation of affairs of banks in possession of commissioner |
SECTION 25. Prosecution and defense of suits and other legal proceedings; sales of property |
SECTION 26. Appointment of agents to assist in liquidation and distribution; federal agencies as liquidating agent; subrogation rights |
SECTION 26A. Assistance of federal agency as liquidating agent; notice requirements |
SECTION 26B. National Credit Union Administration Board as liquidating agent of credit unions; subrogation rights |
SECTION 27. Inventory of bank assets |
SECTION 28. Notice to claimants; claims presented |
SECTION 29. List of claims presented |
SECTION 30. Fees and expenses |
SECTION 31. Dividends; objections to claims |
SECTION 31A. Dividend payments to minors; disposition of accounts of decedents |
SECTION 32. Property deposited with bank; disposition |
SECTION 33. Bank aggrieved by action of commissioner; application for injunction |
SECTION 34. Stockholders' meeting |
SECTION 35. Unclaimed dividends and funds |
SECTION 35A. Destruction of books, records, etc. concerning bank and liquidation thereof |
SECTION 35B. Reports on banks in possession of commissioner |
SECTION 36. Equity jurisdiction of supreme judicial court |
SECTION 36A. Appointment of conservator; powers and duties; compensation; termination; equity jurisdiction of supreme court |
SECTION 37. Unauthorized banking |
SECTION 37A. Examination of accounts, books and papers to determine violation of Sec. 37 |
SECTION 37B. Student bank programs |
SECTION 38. Repealed, 2014, 482, Sec. 20 |
SECTION 38A. Repealed, 1982, 626, Sec. 2 |
SECTION 39. Repealed, 2014, 482, Sec. 20 |
SECTION 39A. Repealed, 1982, 626, Sec. 2 |
SECTION 39B,39C. Repealed, 2014, 482, Sec. 20 |
SECTION 40. Examination of foreign or out-of-state banks; charges; availability of reports and information; cooperation with other jurisdictions |
SECTION 40A. Registration with commissioner; reports |
SECTION 41. Access to vaults, books and papers; summoning witnesses; administering oaths |
SECTION 42. Insolvent foreign or out-of-state banks; injunction |
SECTION 43,43A. Repealed, 2014, 482, Sec. 22 |
SECTION 44 to 45A. Repealed, 1982, 626, Secs. 1, 2 |
SECTION 46. Honoring and cashing of pensioners' and retirees' checks |
SECTION 47. Repealed, 2010, 234, Sec. 1 |
SECTION 48. Financing of premises containing lead in paint, plaster or materials |
SECTION 49. Definitions applicable to Secs. 49 to 51 |
SECTION 50. Compliance review supervisor |
SECTION 51. Compliance review documents; confidentiality |