Massachusetts Statutes

Section 2A. The commissioner shall preside at all hearings except as hereinafter provided. The consumer's council shall have the authority to represent the people of the commonwealth in all such hearings and shall be deemed an aggrieved party for the purposes of judicial or admin…

Section 3. No person shall construct, commence construction, or operate a CATV system in any city or town by means of wires and cables of its own or of any other person, without first obtaining as herein provided a written license from each city or town in which such wires or cab…

Section 4. No such license or renewal thereof shall be issued except upon written application to the appropriate issuing authority on an application form prescribed by the department. Such form shall contain such information as the division may prescribe as to the citizenship and…

Section 5. In the event a license is issued, each licensee shall agree to the following: (a) In installing, operating, and maintaining equipment, cable and wires, it shall avoid all unnecessary damage and injury to trees, structures, and improvements in and along the routes autho…

Section 6. No license issued under section three shall be granted until the issuing authority has held a public hearing thereon, first causing notice of the time and place of such hearing and of the subject matter sufficient for identification, to be published in a newspaper of g…

Section 7. No license or control thereof shall be transferred or assigned without the prior written consent of the issuing authority, which consent shall not be arbitrarily or unreasonably withheld. Such consent shall be given only after a hearing upon a written application there…

Section 8. Each licensee shall install its CATV system and maintain the quality of the signals transmitted over its system to its subscribers in accordance with standards to be prescribed by the Federal Communications Commission and the department. Each licensee shall file annual…

Section 9. No application for a license to operate a CATV system or for renewal, transfer or assignment of such a license shall be considered by an issuing authority unless it is accompanied by an application fee of one hundred dollars payable to the city or town. A licensee, ser…

Section 1. As used in this chapter, the following words shall, unless the context otherwise requires, have the following meanings:— ''Bank'', any association or corporation chartered by the commonwealth under chapter 168, 170, 171 or 172, or an individual, association, partnershi…

Section 10. Any violation of sections fifty-two to fifty-three A, inclusive, of chapter two hundred and sixty-six shall be reported, in writing, within a reasonable time after discovery, to the commissioner and to the district attorney of the district in which the bank does busin…

Section 11. Any shortage of five thousand dollars or more in a bank shall, within forty-eight hours of discovery thereof by an officer of the bank in or with respect to which such shortage occurs, be reported in writing to the commissioner by the president and treasurer of the ba…

Section 12. If, after inquiry, the commissioner finds that any officer of any bank, including a director or trustee thereof, has violated any law related to such bank or has conducted the business of such bank in an unsafe or unsound manner or has used his official position in a …

Section 12A. Whenever any officer of a bank, including a director or trustee, or other person participating in the conduct of the affairs of such bank, is charged in any information, indictment or complaint with the commission or participation in a crime involving a breach of tru…

Section 13. All annual reports submitted to the commissioner by banks shall be on a form which he shall prescribe. Each report shall contain a declaration signed by the president, or by an officer designated by the board of directors or trustees of the bank to make the declaratio…

Section 14. The commissioner shall assess the record of each supervised bank in satisfying their continuing and affirmative obligation to help meet the credit needs of the communities in which offices and branches are maintained, including areas contiguous thereto and low and mod…

Section 14A. There shall be four regional mortgage review boards operating in the commonwealth. There shall be a Boston metropolitan area mortgage review board which shall include the counties of Suffolk, Essex, Middlesex and Norfolk; a southeastern mortgage review board which sh…

Section 14C. There shall be established four regional small business loan review boards in the commonwealth. There shall be a Boston metropolitan area small business loan review board which shall include the counties of Suffolk, Essex, Middlesex and Norfolk; a southeastern small …

Section 15. The commissioner of banks shall annually prepare and submit a list to the investment committee established under the provisions of section twenty-three of chapter thirty-two and the state treasurer which indicates those banks, as defined in section one, which have sat…

Section 15A. (a) As used in this section and in sections 15B to 15K, inclusive, ''legal list'' or ''legal investments'' shall mean the list of securities approved for investment by the commissioner. (b) On or before July 1 of each year, the commissioner shall prepare a list of al…

Section 15B. (a) The legal list prepared pursuant to section 15A may include securities that are approved for investment in accordance with this section. (b) The securities eligible for approval for investment under this section may include: (i) interest-bearing obligations of an…

Section 15C. An entity that may invest pursuant to section 15A or the legal list may invest in bonds, notes or other interest-bearing obligations of the following classes: (i) direct obligations of the United States or in obligations that are unconditionally guaranteed as to the …

Section 15D. An entity authorized to invest pursuant to section 15A or the legal list may invest in bond, notes or other interest-bearing obligations of the following classes: (i) legally issued or assumed bonds, notes or other interest-bearing obligations of a county, city, town…

Section 15E. (a) An entity that may invest pursuant to section 15A or the legal list may invest in bonds, notes or other interest-bearing obligations of railroad corporations subject to the conditions, limitations and requirements of this section. (b) With respect to bonds, the o…

Section 15F. (a) As used in sections 15F and 15G, ''bond'' shall include a note or debenture. (b) An entity that may invest pursuant to section 15A or the legal list may invest in the bonds of any company which at the time of the investment is incorporated under the laws of the U…

Section 15G. (a) An entity that may invest pursuant to section 15A or the legal list may invest in bonds, notes or other interest-bearing obligations of a gas, electric light or water company incorporated or doing business in the commonwealth and subject to the control and superv…

Section 15H. An entity that may invest pursuant to section 15A or the legal list may invest in the common stock of banking corporations and bank holding companies subject to the following conditions, limitations and requirements: (i) in the common stock of a bank in stock form in…

Section 15I. Subject to applicable banking laws, an entity that may invest pursuant to section 15A or the legal list may purchase the whole or any part of the stock of a savings bank, co-operative bank, federal savings and loan association or federal savings bank; provided, howev…

Section 15J. An entity that may invest pursuant to section 15A or the legal list may invest in the capital stock of any insurance company that may conduct a fire and casualty insurance business; provided, however, that no insurance stock shall be purchased if the cost of the insu…

Section 15K. An entity that may invest pursuant to section 15A or the legal list may invest in securities of any of the following classes: debentures, convertible debentures, notes or other evidences of indebtedness of: (i) a banking corporation in the common stock of which the c…

Section 18. Whenever in the opinion of the commissioner an excessive loan has been made, or is about to be made, upon real estate, by a bank, said commissioner may cause an appraisal of such real estate to be made at the expense of the bank making the loan. One appraiser shall be…

Section 19. Whenever it has been determined by the commissioner, after investigation, that the losses of any such bank resulting from a depreciation in the value of its assets or otherwise, exceed its surplus and any other reserve accounts, so that the estimated value of its asse…

Section 1A. The commissioner shall promulgate rules and regulations establishing minimum standards relative to the security and protection of credit unions under the commissioner's supervision, both for the benefit of employees as well as the general public, including the require…

Section 2. (a)(1) The commissioner, either personally or by his examiners or such other assistants that he designates, shall, at least once in each calendar year, or at least once in an 18–month period in the case of a bank which is well capitalized as defined in 12 U.S.C. § 1831…

Section 20. At least once in each three year period, every bank shall cause its savings accounts to be verified, to such an extent and in such manner as the commissioner shall require, and under such rules as he may prescribe.

Section 21. Any bank, which term for the purposes of this section shall include not only any bank as defined in section one but also, to the extent that the provisions hereof are not inconsistent with and do not infringe upon paramount federal law governing national banks, any na…

Section 21A. Any officer of the commonwealth or of any political subdivision thereof, or of any public or quasi-public body or corporation, receiving public or quasi-public moneys, including trust and sinking funds, who lawfully and in good faith and in the exercise of due care h…

Section 22. Whenever it shall appear to the commissioner that any bank has violated its charter or any law of the commonwealth, or is conducting its business in an unsafe or unauthorized manner, or that its capital is impaired, or if it shall refuse to submit its books, papers an…

Section 23. Upon taking possession of the property and business of a bank, the commissioner shall forthwith give notice thereof to all banks, associations and individuals holding or having possession of any assets of such bank. No bank, association or individual, knowing that the…

Section 24. Upon taking possession of the property and business of such bank, the commissioner may collect moneys due to the bank and do all acts necessary to conserve its assets and business, and shall proceed to liquidate its affairs as hereinafter provided. Said commissioner s…

Section 25. To execute and perform the powers and duties conferred upon him, the commissioner may, in the name of any such bank, prosecute and defend all suits and other legal proceedings and may, in the name of the bank, execute, acknowledge and deliver all deeds, assignments, r…

Section 26. The commissioner may, under his hand and official seal, appoint agents to assist him in the duty of liquidation and distribution. The certificates of the appointment of such agents shall be filed in the office of the commissioner and certified copies thereof shall be …

Section 26A. Whenever a federal agency, as defined in section 26, is named as liquidating agent of a banking institution as defined in section 1 of chapter 167A, the board of Bank Incorporation or the commissioner of banks, in order to assist such agency, may exercise its authori…

Section 26B. The commissioner may, under his hand and official seal, appoint the National Credit Union Administration Board as the liquidating agent of a credit union insured by said National Credit Union Administration Board. Upon its acceptance of the appointment, said board as…

Section 27. Upon taking possession of the property and assets of such bank, the commissioner shall make an inventory, in duplicate, of the assets of the bank, one to be filed in his office and one in the office of the clerk of the supreme judicial court.

Section 28. The commissioner shall publish weekly for three consecutive months, in such newspapers as he directs, a notice calling on all persons who may have claims against such bank to present the same to the commissioner and to make legal proof thereof at a place and in a time…

Section 29. Upon the expiration of the time fixed for the presentation of claims, the commissioner shall make, in duplicate, a full and complete list of the claims presented, including and specifying such claims as have been rejected by him. One of said lists shall be filed in hi…