Agreements Exculpating Credit Union for Wrongful Payment of Account

  1. Law
  2. Massachusetts General Laws
  3. Administration of the Government
  4. Corporations
  5. Credit Unions
  6. Agreements Exculpating Credit Union for Wrongful Payment of Account

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Section 47. Any agreement between a depositor or shareholder and any credit union which exculpates such credit union when an account, or any part thereof, is paid by such credit union to a person unlawfully presenting a passbook, or other instrument as evidence of such account is hereby declared to be contrary to public policy and void.


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