Massachusetts § 7 - Statements and reports required by commissioner or by law
Full text of Massachusetts Massachusetts General Laws § 7 — Statements and reports required by commissioner or by law, with citation guidance and answers to common questions.
§ 7. Statements and reports required by commissioner or by law
Section 7. In addition to the reports required by law, banks shall make such other statements and reports to the commissioner as he may require. The commissioner shall furnish blank forms for all statements or reports required to be made to him. Any bank neglecting to make the returns required by law or by the commissioner, or failing to amend such report within fifteen days after notice from him, shall, unless such neglect or failure is due to justifiable cause and not due to wilful neglect, forfeit to the commonwealth, five dollars for each day during which such neglect continues, to be recovered by an information in equity in the name of the attorney general at the relation of the commissioner, brought in the supreme judicial court for Suffolk county.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 7
What does Massachusetts General Laws § 7 cover?
Section 7 ("Statements and reports required by commissioner or by law") is part of the Massachusetts General Laws, the codified statutory law of Massachusetts. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Massachusetts § 7?
A common citation format is "Massachusetts General Laws § 7" (Massachusetts). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Massachusetts law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Massachusetts official source linked on this page or consult a licensed Massachusetts attorney.
How does Massachusetts § 7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Massachusetts can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Massachusetts.