Chapter 167A

Section 1. The following words when used in this chapter, unless the context otherwise requires, shall have the following meanings:— (a) ''Banking institution'', a trust company, commercial bank, savings bank, savings and loan association or cooperative bank chartered by the comm…

Section 2. Except with the prior written approval of the board of bank incorporation (1) no company shall become a bank holding company; (2) no bank holding company owning, controlling or holding with the power to vote, directly or indirectly, twenty-five per centum or more of th…

Section 3. The prohibitions contained in section two shall not apply to (1) stock acquired in good faith in a fiduciary capacity except where such stock is held for the benefit of the shareholders of a banking institution or bank holding company; (2) stock accepted in good faith …

Section 3A. Any banking institution doing business in the commonwealth that is a subsidiary of a bank holding company may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations in the commonwealth as an agent for ano…

Section 4. Any company or bank holding company seeking authority to act under the provisions of section two shall file a petition with the board of bank incorporation, together with a fee, the amount of which shall be determined annually by the commissioner of administration unde…

Section 5. (a) Each bank holding company shall register with the commissioner on forms prescribed by him which shall include such information with respect to the financial condition, operations, management and intercompany relationships of the bank holding company and its affilia…

Section 6. (a) Any company which knowingly violates any provision of this chapter or any regulation or order issued by the commissioner pursuant thereto may be punished by a fine of not more than one hundred dollars for each day during which such violation continues. (b) Any indi…

Section 7. The supreme judicial court or any justice thereof shall have jurisdiction in equity to enforce the provisions of this chapter.

Section 8. A banking institution, a bank holding company, a company or a mutual holding company, as defined in section 1 of chapter 167H, may request that specific information in any application filed with the board of bank incorporation be eligible for confidential treatment. Th…