General Laws of Massachusetts - Chapter 167D Deposits and Accounts - Section 22 Bank as depository of federal government funds

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 in accordance with applicable federal law, rules and regulations, may satisfy any requirement, including, without limitation, the pledging of collateral, and enter into such arrangements necessary or incidental to the receipt and administration of such deposit accounts.

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Last modified: September 11, 2015