State Codes and Statutes

Statutes > Massachusetts > PARTI > TITLEXXII > CHAPTER170

Section 1 Definitions
Section 1A Powers
Section 2 Agreement to form co-operative bank; subscribers
Section 3 Change of corporate name
Section 4 Notice and application to board of bank incorporation; certificate; hearing; special surplus fund
Section 5 First meeting of subscribers
Section 6 Articles; certificate of incorporation
Section 7 By-laws
Section 8 Members; voting rights
Section 9 Board of directors; clerk; directors and officers; records of meetings
Section 10 Directors or officers serving in same capacity for other financial institutions
Section 11 Security committee; finance committee
Section 12 Treasurer; duties; assistant treasurer
Section 13 Duties of treasurer under other provisions of law
Section 14 Powers and duties of commissioner; audit
Section 15 Bond of officers and employees
Section 16 Misconduct of officer, director, agent or employee
Section 17 Fee, commission, gift, or other consideration for or in connection with business of corporation
Section 18 Report to commissioner; balance sheet
Section 19 Loans or extension of credit to officers or directors
Section 19A Violations; penalty
Section 20 Distribution of net profits
Section 20A Computation and rate of dividends and interest
Section 21 Surplus accounts
Section 22 Minimum reserves
Section 23 Reserve balances
Section 24 Advance, loan upon or purchase of bank assets or stock
Section 25 Consolidation of co-operative banks
Section 26 Consolidation on expedited basis
Section 26A Merger or consolidation of co-operative bank and savings bank
Section 26B Merger or consolidation of co-operative banks and thrift institutions
Section 26C Conversion of co-operative bank to stockholder owned form of corporation
Section 26D Consolidation or merger of co-operative bank converted into stock corporation into single state or federally-chartered stock corporation
Section 26E Conversion of co-operative bank to stock holder owned form of corporation
Section 26F Merger or consolidation of credit unions and corporations into single cooperative bank
Section 26G Restrictions on approval of merger or consolidation applications
Section 26H Conversion of credit union into co-operative bank in mutual form
Section 27 Dissolution and liquidation
Section 28 Conversion of co-operative bank to federal savings and loan association or federal savings bank
Section 29 Conversion of federal savings and loan association to co-operative bank
Section 30 Co-operative Banks Employees Retirement Association
Section 31 By-laws of retirement association
Section 32 Retirement association property, etc.; tax exemption, attachment, execution or assignment
Section 33 Co-operative Banks Employees Benefit Association
Section 34 By-laws of benefit association
Section 35 Benefit association property; tax exemption, attachment, execution or assignment

State Codes and Statutes

Statutes > Massachusetts > PARTI > TITLEXXII > CHAPTER170

Section 1 Definitions
Section 1A Powers
Section 2 Agreement to form co-operative bank; subscribers
Section 3 Change of corporate name
Section 4 Notice and application to board of bank incorporation; certificate; hearing; special surplus fund
Section 5 First meeting of subscribers
Section 6 Articles; certificate of incorporation
Section 7 By-laws
Section 8 Members; voting rights
Section 9 Board of directors; clerk; directors and officers; records of meetings
Section 10 Directors or officers serving in same capacity for other financial institutions
Section 11 Security committee; finance committee
Section 12 Treasurer; duties; assistant treasurer
Section 13 Duties of treasurer under other provisions of law
Section 14 Powers and duties of commissioner; audit
Section 15 Bond of officers and employees
Section 16 Misconduct of officer, director, agent or employee
Section 17 Fee, commission, gift, or other consideration for or in connection with business of corporation
Section 18 Report to commissioner; balance sheet
Section 19 Loans or extension of credit to officers or directors
Section 19A Violations; penalty
Section 20 Distribution of net profits
Section 20A Computation and rate of dividends and interest
Section 21 Surplus accounts
Section 22 Minimum reserves
Section 23 Reserve balances
Section 24 Advance, loan upon or purchase of bank assets or stock
Section 25 Consolidation of co-operative banks
Section 26 Consolidation on expedited basis
Section 26A Merger or consolidation of co-operative bank and savings bank
Section 26B Merger or consolidation of co-operative banks and thrift institutions
Section 26C Conversion of co-operative bank to stockholder owned form of corporation
Section 26D Consolidation or merger of co-operative bank converted into stock corporation into single state or federally-chartered stock corporation
Section 26E Conversion of co-operative bank to stock holder owned form of corporation
Section 26F Merger or consolidation of credit unions and corporations into single cooperative bank
Section 26G Restrictions on approval of merger or consolidation applications
Section 26H Conversion of credit union into co-operative bank in mutual form
Section 27 Dissolution and liquidation
Section 28 Conversion of co-operative bank to federal savings and loan association or federal savings bank
Section 29 Conversion of federal savings and loan association to co-operative bank
Section 30 Co-operative Banks Employees Retirement Association
Section 31 By-laws of retirement association
Section 32 Retirement association property, etc.; tax exemption, attachment, execution or assignment
Section 33 Co-operative Banks Employees Benefit Association
Section 34 By-laws of benefit association
Section 35 Benefit association property; tax exemption, attachment, execution or assignment

State Codes and Statutes

State Codes and Statutes

Statutes > Massachusetts > PARTI > TITLEXXII > CHAPTER170

Section 1 Definitions
Section 1A Powers
Section 2 Agreement to form co-operative bank; subscribers
Section 3 Change of corporate name
Section 4 Notice and application to board of bank incorporation; certificate; hearing; special surplus fund
Section 5 First meeting of subscribers
Section 6 Articles; certificate of incorporation
Section 7 By-laws
Section 8 Members; voting rights
Section 9 Board of directors; clerk; directors and officers; records of meetings
Section 10 Directors or officers serving in same capacity for other financial institutions
Section 11 Security committee; finance committee
Section 12 Treasurer; duties; assistant treasurer
Section 13 Duties of treasurer under other provisions of law
Section 14 Powers and duties of commissioner; audit
Section 15 Bond of officers and employees
Section 16 Misconduct of officer, director, agent or employee
Section 17 Fee, commission, gift, or other consideration for or in connection with business of corporation
Section 18 Report to commissioner; balance sheet
Section 19 Loans or extension of credit to officers or directors
Section 19A Violations; penalty
Section 20 Distribution of net profits
Section 20A Computation and rate of dividends and interest
Section 21 Surplus accounts
Section 22 Minimum reserves
Section 23 Reserve balances
Section 24 Advance, loan upon or purchase of bank assets or stock
Section 25 Consolidation of co-operative banks
Section 26 Consolidation on expedited basis
Section 26A Merger or consolidation of co-operative bank and savings bank
Section 26B Merger or consolidation of co-operative banks and thrift institutions
Section 26C Conversion of co-operative bank to stockholder owned form of corporation
Section 26D Consolidation or merger of co-operative bank converted into stock corporation into single state or federally-chartered stock corporation
Section 26E Conversion of co-operative bank to stock holder owned form of corporation
Section 26F Merger or consolidation of credit unions and corporations into single cooperative bank
Section 26G Restrictions on approval of merger or consolidation applications
Section 26H Conversion of credit union into co-operative bank in mutual form
Section 27 Dissolution and liquidation
Section 28 Conversion of co-operative bank to federal savings and loan association or federal savings bank
Section 29 Conversion of federal savings and loan association to co-operative bank
Section 30 Co-operative Banks Employees Retirement Association
Section 31 By-laws of retirement association
Section 32 Retirement association property, etc.; tax exemption, attachment, execution or assignment
Section 33 Co-operative Banks Employees Benefit Association
Section 34 By-laws of benefit association
Section 35 Benefit association property; tax exemption, attachment, execution or assignment