Mass. Gen. Laws ch. 167 – Supervision of Banks | Midpage1Definitions1ARules and regulations2Examination of banks2ADefinitions applicable to Secs. 2A to 2G; unfair practices involving consumer transactions; rules and regulations2BInvestigation of unfair practices2CProceedings regarding unfair practices; notice; hearing2DUnfair practices; findings; cease and desist orders; penalty; modification of order2EReview of cease and desist orders; civil liability2FViolations of cease and desist orders; penalties2GPenalties for unfair practices; enforcement2HNotice to commissioner of activity or investment of savings bank, co-operative bank or trust company; waiver or extension of notice period2ICompliance with federal laws and regulations2JConfidentiality of information provided in applications filed with commissioner3Meetings of board of directors or board of trustees of bank; reports on bank examinations; records; certificates4Summoning and examination of bank officers5Request for bank examination6Manner and form of books and accounts; manner of safeguard and deposit of money and securities6ACopies of agreements concerning Federal Reserve regulations and operating letters, clearing house rules, etc.; rules and regulations7Statements and reports required by commissioner or by law8Failure to make or amend return, statement or report9Destruction or disposal of records, etc.; payment of proceeds10Reports of fraud, embezzlement or misconduct by bank officers or employees11Shortages in funds; reports; fine12Misconduct by bank officers; suspension; removal12ACriminal charges against bank officers; suspension or removal from office13Annual reports14Credit needs of local communities; assessment of banks; regulations; application for establishment of domestic branch; examination; alternative community reinvestment examination procedure14AMortgage review boards; members; terms; appointment; meetings; rules and regulations14CSmall business loan review boards; members; terms; appointment; meetings; rules and regulations15Annual list to investment committee of banks meeting local community needs15AAnnual list of legal investments15BInclusion of certain investments in list of legal investments upon approval by commissioner; application by credit union; refunding bonds15CClasses of bonds, notes or other interest-bearing federal, state and international obligations in which entity may invest15DClasses of bonds, notes or other interest-bearing municipal obligations in which entity may invest15EInvestment in bonds, notes or other interest-bearing obligations of railroad corporations15FInvestment in bonds of company engaged in the business of furnishing telephone service15GInvestment in bonds, notes or other interest-bearing obligations of gas, electric light or water company or bonds of company supplying electrical energy or artificial gas or natural gas purchased from another company15HInvestment in common stock of banking corporations and bank holding companies15IPurchase of stock of savings or co-operative bank, federal savings and loan association or federal saving bank15JInvestment in capital stock of insurance company conducting fire and casualty insurance business15KClasses of securities in which entity may invest18Appraisal of real estate in case of excessive loan19Losses of bank exceeding surplus and other reserve accounts20Verification of savings accounts21Closing of banks21AAssent to and participation in bank reorganization by government officers22Taking possession of property and business of bank by commissioner23Notice of taking possession of bank by commissioner24Collection of moneys due and liquidation of affairs of banks in possession of commissioner25Prosecution and defense of suits and other legal proceedings; sales of property26Appointment of agents to assist in liquidation and distribution; federal agencies as liquidating agent; subrogation rights26AAssistance of federal agency as liquidating agent; notice requirements26BNational Credit Union Administration Board as liquidating agent of credit unions; subrogation rights27Inventory of bank assets28Notice to claimants; claims presented29List of claims presented30Fees and expenses31Dividends; objections to claims31ADividend payments to minors; disposition of accounts of decedents32Property deposited with bank; disposition33Bank aggrieved by action of commissioner; application for injunction34Stockholders' meeting35Unclaimed dividends and funds35ADestruction of books, records, etc. concerning bank and liquidation thereof35BReports on banks in possession of commissioner36Equity jurisdiction of supreme judicial court36AAppointment of conservator; powers and duties; compensation; termination; equity jurisdiction of supreme court37Unauthorized banking37AExamination of accounts, books and papers to determine violation of Sec. 3737BStudent bank programs40Examination of foreign or out-of-state banks; charges; availability of reports and information; cooperation with other jurisdictions40ARegistration with commissioner; reports41Access to vaults, books and papers; summoning witnesses; administering oaths42Insolvent foreign or out-of-state banks; injunction46Honoring and cashing of pensioners' and retirees' checks48Financing of premises containing lead in paint, plaster or materials49Definitions applicable to Secs. 49 to 5150Compliance review supervisor51Compliance review documents; confidentiality