Massachusetts § 97 - State finance and governance board; membership
Full text of Massachusetts Massachusetts General Laws § 97 — State finance and governance board; membership, with citation guidance and answers to common questions.
§ 97. State finance and governance board; membership
Section 97. (a) As used in this section and section 98, the following words shall have the following meanings:
''Board'', the state finance and governance board established by subsection (b).
''Derivative financial products'', financial instruments with values derived from or based upon the value of other assets or on the level of an interest rate index including, but not limited to, detached call options, interest rate swaps or swaptions, caps, floors and collars, but not including bond insurance or other credit or liquidity enhancement of bonds or notes or agreements related to the lending or investment of the proceeds of bonds or notes.
''State entity'', the commonwealth, a state authority or another state entity with responsibility for managing and overseeing public funds.
''Secretary'', the secretary of administration and finance.
(b) There shall be a state finance and governance board consisting of 5 members: 3 of whom shall be appointed by the governor and 2 of whom shall be appointed by the state treasurer. Upon the expiration of the term of a member, a successor shall be appointed for a term of 4 years. At least 2 members appointed by the governor shall be persons with expert knowledge of the field of public finance. The governor shall designate 1 of the members to serve as chair. The members shall serve without compensation but shall receive their necessary expenses incurred in the discharge of their official duties. The secretary shall provide the board with appropriate staff and other assistance and may engage professionals to advise the board.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 97
What does Massachusetts General Laws § 97 cover?
Section 97 ("State finance and governance board; membership") 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 § 97?
A common citation format is "Massachusetts General Laws § 97" (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 § 97 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.