General Laws of Massachusetts - Chapter 167D Deposits and Accounts
- Massachusetts General Laws - Definitions - Chapter 167D, Section 1
In this chapter, unless the context otherwise requires, the following words shall have the following meanings:-- “Bank”, a savings bank, co-operative bank or trust company...
- Massachusetts General Laws - Powers - Chapter 167D, Section 2
Every bank in its banking department shall, subject to any limitations imposed by this chapter, have the following powers and whatever further incidental powers may...
- Massachusetts General Laws - Deposits received; limitations - Chapter 167D, Section 3
A bank may receive demand, time and other types of deposits without limitation; provided, however, that no bank shall assess any fee, charge or other...
- Massachusetts General Laws - Share deposits - Chapter 167D, Section 4
A bank may receive savings deposits in denominations of one hundred dollars or two hundred dollars in the form of shares as hereinafter described: 1....
- Massachusetts General Laws - Joint accounts - Chapter 167D, Section 5
Any bank or federally-chartered bank may receive deposits in the name of two or more persons as joint tenants, payable to two or more persons...
- Massachusetts General Laws - Limited access deposit accounts - Chapter 167D, Section 5A
(a) A bank or federally chartered bank may receive deposits into a deposit account held in the name of a natural person and established for...
- Massachusetts General Laws - Deposits in trust for other persons - Chapter 167D, Section 6
Any bank or federally-chartered bank may receive deposits made by 1 or 2 persons in trust for other persons. The name, residence and date of...
- Massachusetts General Laws - Payments to minors - Chapter 167D, Section 7
Any bank or federally-chartered bank having funds on deposit in the name of a minor may, unless in violation of a written agreement to which...
- Massachusetts General Laws - Time deposits - Chapter 167D, Section 8
For any time deposits with a maturity in excess of thirty days, any such bank shall be required to mail to the depositor a written...
- Massachusetts General Laws - Club deposits - Chapter 167D, Section 9
Any such bank may contract, on terms to be agreed upon, for club deposits, so-called, which deposits may be made at intervals within any period...
- Massachusetts General Laws - Repealed, 2004, 461, Sec. 14 - Chapter 167D, Section 10
Repealed, 2004, 461, Sec.
- Massachusetts General Laws - Shade Tree and Cemetery Accounts - Chapter 167D, Section 11
A bank may receive on deposit to any amount, funds in trust for the purposes of setting out shade trees in streets and parks and...
- Massachusetts General Laws - Loans guaranteed by Massachusetts higher education assistance corporation - Chapter 167D, Section 12
A bank may receive deposits, under the terms of a written plan approved by the commissioner from any labor union, association, trust, public utility, partnership,...
- Massachusetts General Laws - Return of depositor’s vouchers - Chapter 167D, Section 13
A depositor’s vouchers may be returned by mailing the same to him, at his last known address, postage prepaid, and such depositor may, when required...
- Massachusetts General Laws - Advance advertisement of interest or dividend rate - Chapter 167D, Section 14
Without the consent of the commissioner, no bank shall advertise in any manner more than four months prior to the date interest or dividends on...
- Massachusetts General Laws - Advertisement and payment of interest; rules and regulations - Chapter 167D, Section 15
1. As used in this section the following words shall have the following meanings: (a) “Nonfederally-insured bank”, any bank, except a credit union as defined...
- Massachusetts General Laws - Withdrawal of savings deposits - Chapter 167D, Section 16
All deposits in any bank may be withdrawn at such time and in such manner as the by-laws direct. The treasurer or other authorized officer...
- Massachusetts General Laws - Agreements to exculpate bank for unlawful payment from deposit account - Chapter 167D, Section 17
Any agreement between a depositor and any bank which exculpates such bank when a deposit account, or any part thereof, is paid by such bank...
- Massachusetts General Laws - Lost, stolen or destroyed passbooks; payment or issuance of duplicate passbook - Chapter 167D, Section 18
When a passbook or other instrument as evidence of a depositor’s account issued by any bank has been lost, stolen or destroyed, the person in...
- Massachusetts General Laws - Transfer of depositor or shareholder funds as consequence of default of debt owed by depositor or shareholder to bank - Chapter 167D, Section 19
Whenever a bank as a consequence of a default of a debt owed to said bank by a depositor or shareholder, makes a transfer of...
- Massachusetts General Laws - Set off or recoupment by person indebted to bank - Chapter 167D, Section 20
A person indebted to a bank may, when proceeded against for the collection of such indebtedness or for the enforcement of any security therefor, set...
- Massachusetts General Laws - Collateral or security for deposit - Chapter 167D, Section 21
No bank shall give collateral or other security for a deposit of money received in its banking department, except that such bank may make such...
- Massachusetts General Laws - Bank as depository of federal government funds - Chapter 167D, Section 22
A bank may act as a depository of funds of the United States or any department, agency or instrumentality thereof, and in connection therewith and...
- Massachusetts General Laws - Registration and holding of stock or security in name of partnership or corporate nominee - Chapter 167D, Section 23
Any bank may cause any stock or security in registered form held for its account and not in a fiduciary capacity to be registered and...
- Massachusetts General Laws - Multiple claimants for deposited funds - Chapter 167D, Section 24
If, in an action against a bank for money on deposit therewith, it appears that the same fund is claimed by another party than the...
- Massachusetts General Laws - Repealed, 1990, 506, Sec. 1 - Chapter 167D, Section 25
Repealed, 1990, 506, Sec.
- Massachusetts General Laws - Reduction of deposit accounts where value of bank assets less than total deposits - Chapter 167D, Section 26
The supreme judicial court or any justice thereof sitting in equity may, on petition of a bank or the board of the bank, approved by...
- Massachusetts General Laws - Cancelled instruments provided upon request of depositor - Chapter 167D, Section 27
A bank or federally-chartered bank which accepts a deposit for demand deposit or other account subject to withdrawal by negotiable or transferable instrument for the...
- Massachusetts General Laws - Advertisements in language other than English - Chapter 167D, Section 28
Any advertisement, within the commonwealth, in a language other than English made by a bank, or federally-chartered bank to aid, promote or assist directly or...
- Massachusetts General Laws - Employers to forward pension or retirement payments to bank - Chapter 167D, Section 29
A city, state, county or municipal treasurer or other official or private employer who receives a written request from a pensioner or retiree, shall, at...
- Massachusetts General Laws - Designation of beneficiary for pension, profit-sharing, etc. plans - Chapter 167D, Section 30
Any designation of any beneficiary in connection with and as provided by an instrument intended to establish a pension, profit-sharing, or other deferred compensation or...
- Massachusetts General Laws - Recognition by bank of adverse claimants to deposits - Chapter 167D, Section 31
No bank, federally-chartered bank or other corporation doing a banking business in the commonwealth, in this section called the depository, shall be required to recognize...
- Massachusetts General Laws - Deposits from lessor acting as trustee for security deposits - Chapter 167D, Section 32
Any bank or federally-chartered bank may establish an account to receive deposits from a lessor acting as a trustee for funds received and held by...
- Massachusetts General Laws - Deposits of decedents; payment - Chapter 167D, Section 33
Deposits standing in the individual name of a deceased depositor of a bank or federally chartered bank shall be paid to his legal representative, but...
- Massachusetts General Laws - Customer information; telephone service - Chapter 167D, Section 34
Every bank, federally-chartered bank or person which advertises to the public any deposit or credit account or the sale of any security as defined in...
- Massachusetts General Laws - Disclosure to account holders of policy relative to time period between deposit being made and its availability for withdrawal or use - Chapter 167D, Section 35
For the purposes of this section, the following terms shall have the following meanings: “Account”, any demand deposit, negotiable withdrawal order account, savings deposit, share...
- Massachusetts General Laws - Repayment by foreign branch bank of deposits; acts of war, impaired operation of civil authority, or closure of branch to prevent harm to employees or property - Chapter 167D, Section 36
Notwithstanding the provisions of any general or special law to the contrary, a bank, a federal bank or a Massachusetts branch as defined in section...
Last modified: September 11, 2015