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Section
1
Definitions
Section
2
Incorporation; Agreement of Association
Section
3
Notice to Commissioner; Investigation Fee
Section
4
First Meeting of Incorporators; Notice
Section
5
Articles of Organization; Certificate of Incorporation
Section
6
Transaction of Business; Authorization; Approval of By-Laws; Failure to Commence
Section
6a
Powers and Permissible Activities; Regulations
Section
6b
Savings Promotion Raffles
Section
7
Use of Words ''credit Union'' Restricted; Penalties
Section
8
Location Changes; Branches and Depots; Consolidations or Mergers; Mobile Branch Banking
Section
8a
Purchase, Establishment, Installation, Etc. of Electronic Branches; Location; Safeguards
Section
8b
Educational Credit Union, Student Savings Deposit and School Branch Office Programs
Section
8c
Application by Foreign Credit Union or Out-of-State Federal Credit Union to Establish New Branch in the Commonwealth
Section
8d
Examination of Affairs of Foreign Credit Union or Out-of-State Federal Credit Union
Section
8e
Registration of Foreign Credit Union or Out-of-State Federal Credit Union Operating a Branch in the Commonwealth
Section
8f
Injunction to Restrain Foreign Credit Union or Out-of-State Federal Credit Union From Further Proceeding With Business
Section
9
By-Laws
Section
10
Amendment of By-Laws
Section
11
Annual Meetings; Special Meetings; Notice; Voting
Section
12
Directors; Terms; Inability to Pay Judgment; Classes
Section
13
Powers and Duties of Directors; Quorum; Removal From Office; Honorary President; Participation in Meetings by Means of Conference Telephone or Similar Electronic Communications Equipment
Section
14
Expulsion of Members
Section
15
Officers and Committee Members; Election and Appointment; Loan Officers
Section
16
Auditing Committee; Powers and Duties
Section
17
Credit Committee; Powers and Duties
Section
18
Investment Committee; Powers and Duties
Section
19
Directors and Officers; Limitations on Services With Other Financial Institutions
Section
20
Compensation and Expense Reimbursement; Restrictions on Loans to Directors
Section
21
Bond Requirements
Section
22
Treasurer's Additional Duties Under Chapter 167 and This Chapter
Section
23
Nonfeasance, Misfeasance and Malfeasance; Penalties
Section
24
Indemnification of Directors, Officers and Employees; Liability Insurance
Section
25
Insurance Benefits for Employees, Officers and Directors
Section
26
Annual Reports
Section
27
Balance Sheets
Section
28
Preservation of Records
Section
29
Shares and Deposits; Dividends
Section
30
Limitations on Shares and Deposits
Section
31
Negotiable Withdrawal Order Accounts
Section
31a
Guarantees
Section
32
Term Share or Deposit Accounts; Written Plan
Section
32a
Limited Access Deposit Accounts
Section
33
Club Deposits
Section
34
Special Notice Accounts
Section
35
Trustee or Custodian; Profit-Sharing or Retirement Plans
Section
36
Designation of Beneficiary; Deferred Compensation or Retirement Plans
Section
37
Plans Providing Loans Guaranteed by Higher Education Assistance Corporation
Section
38
Accounts for Holding Residential Lease Security Deposits
Section
39
Joint Accounts
Section
40
Trust Accounts
Section
41
Minors' Accounts
Section
41a
Assessment of Fees and Charges
Section
42
Deceased Depositors and Shareholders
Section
43
Withdrawal of Shares or Deposits; Notice
Section
44
Return of Vouchers
Section
45
Pension or Retirement Fund Payments
Section
46
Lost, Stolen or Destroyed Passbooks; Application for Payment or Issuance of Duplicate
Section
47
Agreements Exculpating Credit Union for Wrongful Payment of Account
Section
48
Proceeding for Collection of Indebtedness; Set Off
Section
49
Transfer of Funds to Reduce Debt; Notification
Section
50
Shares or Accounts Pledged as Security; Transfer, Assignment or Credit at Foreclosure
Section
51
Adverse Claims to Shares or Deposits; Process; Bond
Section
52
Reduction of Accounts for Equitable Division of Loss
Section
53
Disclosure to Account Holders of Availability of Funds
Section
54
Telephone Service for Account Information
Section
55
Non–english Advertisements; Notification of Language of Forms
Section
56
Advertisements Concerning Interest or Dividends; Restrictions
Section
57
Loans to Members; Applications; Preferences; Limitations
Section
58
Liabilities of Members; Limitations
Section
59
Personal Loans; Limitations and Restrictions
Section
59a
Credit Cards; Issuance; Limitations
Section
60
Loans for Improvement of Real Estate
Section
61
Loans for Purchase of Manufactured Homes
Section
62
Loans for Purchase of Boats, Campers or Trailers
Section
63
Education Loans
Section
64
Installment Loans
Section
65
Definitions for Secs. 65 to 65e
Section
65a
Mortgage Loans by Credit Unions Authorized; Types; Comprehensive Written Loan Policies
Section
65b
Inspection of Real Estate Securing Loan Upon Default; Appraisal of Real Estate Upon Excessive Loan
Section
65c
Reverse Mortgages; Disbursement of Proceeds; Program Requirements; Written Materials Provided to Borrower; Counseling Program; Priority of Liens
Section
65c.5
Reverse Mortgage Loan Requirements
Section
65c1/2
Reverse Mortgage Loan Requirements
Section
65d
Mortgage Loans Which Provide for Variation in Interest Rate; Conditions; Variation in Rate of Amortization
Section
65e
Powers of Credit Unions
Section
66
Restrictions on Real Estate Mortgage Loans; Credit Union Membership; Location of Mortgaged Real Estate; Capitalization of Assets
Section
67
Investments
Section
67a
Membership in Associations Benefitting Credit Union or Providing Services
Section
67b
Investment in Shares of Stock Registered on a National Securities Exchange or for Which Quotations Are Available Through the Financial Industry Regulatory Authority, inc., or Any Comparable Service; Application to Commissioner for Prudent Person Authority; Due Diligence
Section
68
Registration of Securities in Name of Partnership or Corporate Nominee
Section
69
Allowance or Reserve for Loan Losses
Section
70
Reserve for Losses on Investments
Section
71
Cash on Hand Requirements and Enumerated Investments
Section
72
Contingent Fund; Liability on Loan Upon Death of Member
Section
73
Borrowing on Behalf of Credit Union
Section
74
Sale, Transfer and Assignment of Loans, Investments and Other Assets
Section
75
Investments in Building, Improvements and Equipment; Purchase of Insurance Covering Debtors; Safe Deposit Vaults
Section
75a
Credit Union as Agent or Broker for the Savings Bank Life Insurance Company of Massachusetts
Section
75b
Definitions; Credit Union as Seller of Insurance Products; License Requirement; Officers, Tellers and Employees; Limitations; Insurance to Secure Credit Secured by Mortgage; Waiver of Applicability of Preempted Provisions
Section
76
National Credit Union Administration Central Liquidity Facility; Membership
Section
77
Massachusetts Credit Union Share Insurance Corporation; Insurance of Shares and Deposits
Section
78
Consolidation
Section
78a
Merger or Consolidation of Credit Unions With Savings Bank, Co-Operative Bank or Subsidiary Banking Institution
Section
78b
Repealed, 2014, 482, Sec. 57
Section
79
Merger of Credit Unions Under Possession of Commissioner or Massachusetts Share Insurance Corporation
Section
80
Foreign Credit Unions; Consent for Incorporation
Section
80a
Conversion of Credit Union Into Mutual Savings Bank, Mutual Co-Operative Bank, Mutual Federal Savings Bank or Mutual Federal Savings and Loans Association
Section
80b
Credit Union Chartered in Commonwealth Converted to Federal Charter
Section
81
Liquidation
Section
82
Credit Union Employees Retirement Association Eligibility; Contributions; Pensions and Annuities; Supplemental Benefits
Section
83
Credit Union Employees Retirement Association; By-Laws; Reports
Section
84
Credit Union Employees Retirement Association; Tax Exemption; Attachment