Mass. Gen. Laws ch. 164 § 22

Current through Chapter 89 of the 2024 Legislative Session
Section 164:22 - Deposits

All deposits of funds of corporations subject to this chapter shall be made by the officers thereof in national banks, duly chartered trust companies, savings banks, co-operative banks or federal savings and loan associations; but the foregoing provision shall not apply to any deposit for a period of not more than sixty days made for the purpose of meeting obligations maturing within said period, or to any deposit for a similar period of time resulting from the sale of obligations or securities.

Mass. Gen. Laws ch. 164, § 22