Mass. Gen. Laws ch. 167D – Deposits and Accounts | Midpage

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Massachusetts General Laws

Chapter 167D

Mass. Gen. Laws ch. 167D

Deposits and Accounts

1Definitions 2Powers 3Types of deposits which may be received by bank 3ASavings promotion raffles 4Limited access deposit accounts 5Demand deposit account and savings account for persons 18 years of age or under or 65 years of age or older 6Fee, charges or assessments; refusal of payment of deposited instruments; costs for processing deposited instrument 7Provision of cancelled instruments or copies thereof 8Collateral or security for deposit of money received 9Deposits from residential dwelling unit lessor acting as trustee for security deposits 10Deposits from condominium manager or managing agent acting as trustee for condominium funds 11Lost, stolen or destroyed passbooks 12Deposits of decedents; payment 13Unusual demand by depositors for withdrawals; notice of intention to withdraw deposit or to apply for loan secured by deposit 14Agreements to exculpate bank from payment of deposit account to person unlawfully presenting evidence of account 15Designation of beneficiary for pension, profit-sharing, etc. plans 16Transfer of funds of depositor or shareholder as consequence of default of debt owed to bank; notice 17Set off or recoupment by person indebted to bank 18Multiple claimants for deposited funds 19Recognition by bank of adverse claimants to deposits 20Repayment of deposits made at branch located in foreign country prevented by acts of war, impairment of operation of civil authority, etc.