Massachusetts § 42 - Deceased depositors and shareholders
Full text of Massachusetts Massachusetts General Laws § 42 — Deceased depositors and shareholders, with citation guidance and answers to common questions.
§ 42. Deceased depositors and shareholders
Section 42. Deposits or shares standing in the individual name of a deceased depositor or shareholder shall, except as otherwise provided in this chapter, be paid to his legal representative; but if the total of the deposits and shares does not exceed $10,000 and there has been no demand for payment from a duly appointed executor or administrator, payment may be made at the discretion of a duly authorized officer of the corporation, after the expiration of 30 days from the death of the depositor or shareholder, to the surviving spouse of the deceased depositor or if there be no surviving spouse, to the next of kin of the deceased, upon presentation of a copy of the decedent's death certificate and the surrender of the passbook or other instrument, if any, evidencing the deposits or shares. Payments made as provided in this section shall discharge the liability of the corporation to all persons to the extent of such payments.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 42
What does Massachusetts General Laws § 42 cover?
Section 42 ("Deceased depositors and shareholders") 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 § 42?
A common citation format is "Massachusetts General Laws § 42" (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 § 42 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.