Section 10. Any violation of sections fifty-two to fifty-three A, inclusive, of chapter two hundred and sixty-six shall be reported, in writing, within a reasonable time after discovery, to the commissioner and to the district attorney of the district in which the bank does business, by the president and treasurer of the bank in, or […]
Section 11. Any shortage of five thousand dollars or more in a bank shall, within forty-eight hours of discovery thereof by an officer of the bank in or with respect to which such shortage occurs, be reported in writing to the commissioner by the president and treasurer of the bank in which the shortage occurs, […]
Section 12. If, after inquiry, the commissioner finds that any officer of any bank, including a director or trustee thereof, has violated any law related to such bank or has conducted the business of such bank in an unsafe or unsound manner or has used his official position in a manner contrary to the interests […]
Section 12A. Whenever any officer of a bank, including a director or trustee, or other person participating in the conduct of the affairs of such bank, is charged in any information, indictment or complaint with the commission or participation in a crime involving a breach of trust which is punishable by imprisonment for a term […]
Section 13. All annual reports submitted to the commissioner by banks shall be on a form which he shall prescribe. Each report shall contain a declaration signed by the president, or by an officer designated by the board of directors or trustees of the bank to make the declaration, that the report is true and […]
Section 14. The commissioner shall assess the record of each supervised bank in satisfying their continuing and affirmative obligation to help meet the credit needs of the communities in which offices and branches are maintained, including areas contiguous thereto and low and moderate income neighborhoods, consistent with the safe and sound operation of such banks. […]
Section 14A. There shall be four regional mortgage review boards operating in the commonwealth. There shall be a Boston metropolitan area mortgage review board which shall include the counties of Suffolk, Essex, Middlesex and Norfolk; a southeastern mortgage review board which shall include the counties of Bristol, Plymouth, Barnstable, Dukes County and Nantucket; a central […]
Section 14C. There shall be established four regional small business loan review boards in the commonwealth. There shall be a Boston metropolitan area small business loan review board which shall include the counties of Suffolk, Essex, Middlesex and Norfolk; a southeastern small business loan review board which shall include the counties of Bristol, Plymouth, Barnstable, […]
Section 15. The commissioner of banks shall annually prepare and submit a list to the investment committee established under the provisions of section twenty-three of chapter thirty-two and the state treasurer which indicates those banks, as defined in section one, which have satisfied their continuing and affirmative obligations to help meet the needs of the […]
Section 15A. (a) As used in this section and in sections 15B to 15K, inclusive, ”legal list” or ”legal investments” shall mean the list of securities approved for investment by the commissioner. (b) On or before July 1 of each year, the commissioner shall prepare a list of all stocks, bonds, notes and other interest-bearing […]
Section 15B. (a) The legal list prepared pursuant to section 15A may include securities that are approved for investment in accordance with this section. (b) The securities eligible for approval for investment under this section may include: (i) interest-bearing obligations of any state, county, city, town or district or any subdivision or instrumentality thereof and […]
Section 15C. An entity that may invest pursuant to section 15A or the legal list may invest in bonds, notes or other interest-bearing obligations of the following classes: (i) direct obligations of the United States or in obligations that are unconditionally guaranteed as to the payment of principal and interest by the United States; (ii) […]
Section 15D. An entity authorized to invest pursuant to section 15A or the legal list may invest in bond, notes or other interest-bearing obligations of the following classes: (i) legally issued or assumed bonds, notes or other interest-bearing obligations of a county, city, town or legally established district of the commonwealth; and (ii) legally issued […]
Section 15E. (a) An entity that may invest pursuant to section 15A or the legal list may invest in bonds, notes or other interest-bearing obligations of railroad corporations subject to the conditions, limitations and requirements of this section. (b) With respect to bonds, the obligations shall be those of a railroad incorporated in the United […]
Section 15F. (a) As used in sections 15F and 15G, ”bond” shall include a note or debenture. (b) An entity that may invest pursuant to section 15A or the legal list may invest in the bonds of any company which at the time of the investment is incorporated under the laws of the United States […]
Section 15G. (a) An entity that may invest pursuant to section 15A or the legal list may invest in bonds, notes or other interest-bearing obligations of a gas, electric light or water company incorporated or doing business in the commonwealth and subject to the control and supervision of the commonwealth. (b) An entity that may […]
Section 15H. An entity that may invest pursuant to section 15A or the legal list may invest in the common stock of banking corporations and bank holding companies subject to the following conditions, limitations and requirements: (i) in the common stock of a bank in stock form incorporated under the laws of and doing business […]
Section 15I. Subject to applicable banking laws, an entity that may invest pursuant to section 15A or the legal list may purchase the whole or any part of the stock of a savings bank, co-operative bank, federal savings and loan association or federal savings bank; provided, however, that the bank or association shall be well […]
Section 15J. An entity that may invest pursuant to section 15A or the legal list may invest in the capital stock of any insurance company that may conduct a fire and casualty insurance business; provided, however, that no insurance stock shall be purchased if the cost of the insurance stock added to the cost of […]
Section 15K. An entity that may invest pursuant to section 15A or the legal list may invest in securities of any of the following classes: debentures, convertible debentures, notes or other evidences of indebtedness of: (i) a banking corporation in the common stock of which the corporation may invest pursuant to paragraph 1 of section […]
