General Laws of Massachusetts (Last Updated: January 16, 2020) |
PART I ADMINISTRATION OF THE GOVERNMENT |
TITLE XXII. CORPORATIONS |
CHAPTER 167. SUPERVISION OF BANKS |
SECTION 6. Manner and form of books and accounts; manner of safeguard and deposit of money and securities
Latest version.
-
The commissioner may prescribe the manner and form of keeping the books and accounts of a bank and the extent to which they shall be audited. For a credit union, the commissioner may prescribe the manner of safeguarding its money and securities and may promulgate regulations under which a credit union may deposit its securities with savings banks, co-operative banks, trust companies or banking associations for safekeeping.