Mass. Gen. Laws ch. 111 § 62D

Current through Chapter 231 of the 2024

Section 111:62D - Investment by city or town treasurer of money and securities received from commission; bond

The city or town treasurer shall invest, reinvest and hold in the name of said commission any money or securities, or the proceeds thereof, received from said commission under the preceding section, and shall disburse the income or principal thereof on its order; provided, that no disposition of either income or principal shall be made which is inconsistent with the terms of the trust on which the property is held. The treasurer shall furnish a bond satisfactory to the commission for the faithful performance of his duties relative to such property.

Mass. Gen. Laws ch. 111, § 62D