Massachusetts Code — 171
Browse 96 sections in division 171 of the Massachusetts code. Each section page includes the full statutory text, official source links, and citation guidance.
Sections (showing up to 300)
- § 1. Definitions
- § 2. Incorporation; agreement of association
- § 3. Notice to commissioner; investigation fee
- § 4. First meeting of incorporators; notice
- § 5. Articles of organization; certificate of incorporation
- § 6. Transaction of business; authorization; approval of by-laws; failure to commence
- § 6A. Powers and permissible activities; regulations
- § 6B. Savings promotion raffles
- § 7. Use of words ''credit union'' restricted; penalties
- § 8. Location changes; branches and depots; consolidations or mergers; mobile branch banking
- § 8A. Purchase, establishment, installation, etc. of electronic branches; location; safeguards
- § 8B. Educational credit union, student savings deposit and school branch office programs
- § 8C. Application by foreign credit union or out-of-state federal credit union to establish new branch in the commonwealth
- § 8D. Examination of affairs of foreign credit union or out-of-state federal credit union
- § 8E. Registration of foreign credit union or out-of-state federal credit union operating a branch in the commonwealth
- § 8F. Injunction to restrain foreign credit union or out-of-state federal credit union from further proceeding with business
- § 9. By-laws
- § 10. Amendment of by-laws
- § 11. Annual meetings; special meetings; notice; voting
- § 12. Directors; terms; inability to pay judgment; classes
- § 13. Powers and duties of directors; quorum; removal from office; honorary president; participation in meetings by means of conference telephone or similar electronic communications equipment
- § 14. Expulsion of members
- § 15. Officers and committee members; election and appointment; loan officers
- § 16. Auditing committee; powers and duties
- § 17. Credit committee; powers and duties
- § 18. Investment committee; powers and duties
- § 19. Directors and officers; limitations on services with other financial institutions
- § 20. Compensation and expense reimbursement; restrictions on loans to directors
- § 21. Bond requirements
- § 22. Treasurer's additional duties under chapter 167 and this chapter
- § 23. Nonfeasance, misfeasance and malfeasance; penalties
- § 24. Indemnification of directors, officers and employees; liability insurance
- § 25. Insurance benefits for employees, officers and directors
- § 26. Annual reports
- § 27. Balance sheets
- § 28. Preservation of records
- § 29. Shares and deposits; dividends
- § 30. Limitations on shares and deposits
- § 31. Negotiable withdrawal order accounts
- § 31A. Guarantees
- § 32. Term share or deposit accounts; written plan
- § 32A. Acceptance of funeral trust account
- § 32B. Demand deposit account and savings account; joint accounts; terms; fees; notice of availability
- § 35. Trustee or custodian; profit-sharing or retirement plans
- § 36. Designation of beneficiary; deferred compensation or retirement plans
- § 37. Plans providing loans guaranteed by Higher Education Assistance Corporation
- § 38. Accounts for holding residential lease security deposits
- § 39. Joint accounts
- § 40. Trust accounts
- § 41. Minors' accounts
- § 41A. Assessment of fees and charges
- § 42. Deceased depositors and shareholders
- § 43. Withdrawal of shares or deposits; notice
- § 46. Lost, stolen or destroyed passbooks; application for payment or issuance of duplicate
- § 47. Agreements exculpating credit union for wrongful payment of account
- § 48. Proceeding for collection of indebtedness; set off
- § 49. Transfer of funds to reduce debt; notification
- § 50. Shares or accounts pledged as security; transfer, assignment or credit at foreclosure
- § 51. Adverse claims to shares or deposits; process; bond
- § 52. Reduction of accounts for equitable division of loss
- § 53. Disclosure to account holders of availability of funds
- § 57. Loans to members; applications; preferences; limitations
- § 58. Liabilities of members; limitations
- § 63. Education loans
- § 65. Definitions applicable to Secs. 65 to 65E
- § 65A. Mortgage loans by credit unions authorized; types; comprehensive written loan policies
- § 65B. Inspection of real estate securing loan upon default; appraisal of real estate upon excessive loan
- § 65C. Reverse mortgages; disbursement of proceeds; program requirements; written materials provided to borrower; counseling program; priority of liens
- § 65D. Mortgage loans which provide for variation in interest rate; conditions; variation in rate of amortization
- § 65E. Powers of credit unions
- § 66. Person obligated to make payments under mortgage to be member of credit union
- § 67. Investments
- § 67A. Membership in associations benefitting credit union or providing services
- § 67B. Investment in shares of stock registered on a national securities exchange or for which quotations are available through the financial Industry Regulatory Authority, Inc., or any comparable service; application to commissioner for prudent person authority; due diligence
- § 68. Registration of securities in name of partnership or corporate nominee
- § 69. Allowance or reserve for loan losses
- § 70. Reserve for losses on investments
- § 71. Cash on hand requirements and enumerated investments
- § 72. Contingent fund; liability on loan upon death of member
- § 73. Borrowing on behalf of credit union
- § 74. Sale, transfer and assignment of loans, investments and other assets
- § 75. Investments in fixed assets; investment in other corporations, associations or financial institutions; purchase of insurance covering debtors; checks and money orders; safe deposit vaults
- § 75A. Credit union as agent or broker for The Savings Bank Life Insurance Company of Massachusetts
- § 75B. Definitions; credit union as seller of insurance products; license requirement; officers, tellers and employees; limitations; insurance to secure credit secured by mortgage; waiver of applicability of preempted provisions
- § 76. National Credit Union Administration Central Liquidity Facility; membership
- § 77. Massachusetts Credit Union Share Insurance Corporation; insurance of shares and deposits
- § 78. Consolidation
- § 78A. Merger or consolidation of credit unions with savings bank, co-operative bank or subsidiary banking institution
- § 79. Merger of credit unions under possession of commissioner or Massachusetts Share Insurance Corporation
- § 80. Foreign credit unions; consent for incorporation
- § 80A. Conversion of credit union into mutual savings bank, mutual co-operative bank, mutual federal savings bank or mutual federal savings and loans association
- § 80B. Credit union chartered in commonwealth converted to federal charter
- § 81. Liquidation
- § 82. Credit Union Employees Retirement Association; eligibility; contributions; plans offered by providers other than the association
- § 83. Credit Union Employees Retirement Association; by-laws; reports
- § 84. Credit Union Employees Retirement Association; tax exemption; attachment