General Laws of Massachusetts - Chapter 172 Trust Companies - Section 2 Application of this chapter and chapters 167C to 167G, inclusive

Section 2. (a) Except as herein otherwise specifically provided, this chapter shall apply to all trust companies.

(b) A trust company doing business under a charter issued prior to May twenty-eighth, eighteen hundred and eighty-eight, shall not be subject to any provision of this chapter which is inconsistent with its charter or any provision of its by-laws adopted pursuant to its charter. Such trust company may adopt as part of its charter this chapter and chapters one hundred and sixty-seven C to one hundred and sixty-seven G, inclusive, or any provision thereof, by vote of a majority of its stockholders at its annual meeting or at a meeting called for the purpose and by filing within ten days from the date of such meeting, with the state secretary and with the commissioner, a certificate of such adoption sworn to by the clerk of such trust company.

Section:  Previous  1  1A  2  3  4  5  6  7  8  9  9A  10  11  12  13  Next

Last modified: September 11, 2015