SECTION 1. Definitions

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As used in this chapter, the following words shall, unless the context clearly requires otherwise, have the following meanings:—

''Bank'', a savings bank, co-operative bank or trust company incorporated as such in the commonwealth.

''Board'', the board of trustees or directors of a bank.

''Commissioner'', the commissioner of banks.

''Federally-chartered bank'', a national bank association, a federal savings and loan association, a federal savings bank or a federal credit union authorized to do business in the commonwealth.

                    
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