Election of Alternative Corporate Governance Procedures; Designation in By-Laws of Body of Law Selected for Corporate Governance Procedure

  1. Law
  2. Massachusetts General Laws
  3. Administration of the Government
  4. Corporations
  5. Corporate Governance Provisions and Requirements
  6. Election of Alternative Corporate Governance Procedures; Designation in By-Laws of Body of Law Selected for Corporate Governance Procedure

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Section 21. A bank's corporate governance procedures shall comply with banking laws and regulations and safe and sound banking practices. To the extent not inconsistent with the above, a bank may elect to follow the corporate governance procedures of chapter 156D or the law of the state in which its holding company is organized. A bank shall designate in its by-laws the body of law selected for its corporate governance procedures.


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