reglab/housing_qa huggingface dataset:
MA Gen L ch 167d § 9 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 9 - Deposits From Residential Dwelling Unit Lessor Acting as Trustee for Security Deposits

Section 9. Any bank or federally-chartered bank may establish an account to receive deposits from a lessor acting as a trustee for funds received and held by such trustee pursuant to paragraph (a) of subsection (3) of section 15B of chapter 186. Such account may be established as required by said section 15B for the purpose of holding security deposits taken by a lessor of residential dwelling units owned or managed by said lessor; provided, that the terms of said account shall place said deposit beyond the claim of a creditor of the lessor, including a foreclosing mortgagee or trustee in bankruptcy, and shall provide for the transfer of said deposit to a subsequent owner of any property for which such security deposit was taken. Interest accruing on said deposit shall be paid to the lessor pursuant to the terms of the deposit. Withdrawals and payments made by the corporation from said account shall discharge the liability of said corporation to all persons.
MA Gen L ch 167d § 10 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 10 - Deposits From Condominium Manager or Managing Agent Acting as Trustee for Condominium Funds

Section 10. Any bank or federally-chartered bank may establish an account or accounts to receive deposits from a manager or managing agent acting as a trustee for funds received and held by such trustee pursuant to paragraph (2) of subsection (f) of section 10 of chapter 183A. Such account or accounts may be established as required by said section 10 to hold condominium funds taken by a manager or managing agent, provided, that the terms of said account or accounts shall be such as to place said deposit beyond the claim of a creditor of the manager or managing agent, including a foreclosing mortgagee or trustee in bankruptcy, and as will provide for the transfer of said deposit to the organization of unit owners or subsequent manager or managing agent, as determined by the organization of unit owners. Interest accruing on said deposit shall be paid to the organization of unit owners pursuant to the terms of the deposit. Withdrawals and payments made by the bank or federally chartered bank from said account or accounts shall discharge the liability of said bank or federally chartered bank to all persons.
MA Gen L ch 167d § 11 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 11 - Lost, Stolen or Destroyed Passbooks

Section 11. When a passbook or other instrument as evidence of a depositor's account issued by any bank has been lost, stolen or destroyed, the person in whose name it was issued, or in the case of a joint account, by the joint owners thereof may make written application to such bank for payment of the amount of the deposit represented by said book or other instrument or for issuance of a duplicate book or other instrument therefor. The application shall include an affidavit signed and sworn to that the person, or persons, making such application is a lawful owner, or are the lawful owners, of said passbook or other instrument, that said passbook or other instrument has been lost, stolen or destroyed and that no lawful owner has, in any way, transferred, pledged or assigned said passbook or other instrument or any interest in the deposits therein. The application shall further include an agreement, in writing, to indemnify the bank from and against any and all claims, expenses and liabilities in any way resulting from the bank's action on the application by the payment of amounts due on said passbook or other instrument or by the issuance of a duplicate book or other instrument therefor. All signatures contained with such application shall be duly notarized. Upon receipt of such application, the bank may pay the amount due on said passbook or other instrument or may issue a duplicate book or other instrument therefor. This section shall apply to passbooks and other instruments issued by a bank which subsequently has merged in, consolidated with or transferred its deposit liabilities to another bank.  When payment is made or a duplicate book or other instrument is issued in accordance with this section and after presentation of reasonable identification, a bank shall not be liable to any person on account of its action on the application, payments of the amount due on said passbook or other instrument or issuance of a duplicate book or other instrument therefor, except that a bank may be liable to a transferee, pledgee or assignee who, prior to such action, payment or issuance, has given the bank written notice of the transfer, pledge or assignment.
MA Gen L ch 167d § 12 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 12 - Deposits of Decedents; Payment

Section 12. Deposits standing in the individual name of a deceased depositor of a bank or federally chartered bank shall be paid to the individual's legal representative, but if the deposit does not exceed $10,000 and there has been no demand for payment from a duly appointed executor or administrator, payment may be made, in the discretion of the treasurer or other duly authorized officer of the bank or federally chartered bank, or pursuant to special vote of its board, after the expiration of 30 days from the death of such depositor, to the surviving spouse of said deceased depositor or if there be no surviving spouse, to the next of kin of such deceased upon presentation of a copy of the decedent's death certificate and the surrender of the deposit book or other instrument, if any, evidencing the deposit. Any such bank or federally-chartered bank may pay an order, drawn by a person who has funds on deposit to meet the same, notwithstanding the death of the drawer, if presentation is made within 30 days after the date of such order, and at any time if the corporation has not received written notice of the death of the drawer; provided, however, that in either event, that such funds would, on the date of such payment, have been subject to withdrawal by the drawer if living. Payments made under authority of any provision of this section shall discharge the liability of the bank or federally chartered bank to all persons to the extent of such payments.
MA Gen L ch 167d § 13 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 13 - Unusual Demand by Depositors for Withdrawals; Notice of Intention to Withdraw Deposit or to Apply for Loan Secured by Deposit

Section 13. If, in the judgment of the board, there is an unusual demand by depositors for withdrawals the bank may, with the approval of the commissioner, require such a depositor to give written notice of the depositor's intention to withdraw the whole or any part of such deposits or to apply for a loan secured by such deposit. If, in the opinion of the commissioner, there is an unusual demand by depositors for withdrawals, the bank shall upon the commissioner's order require such a depositor to give written notice of the depositor's intention to withdraw the whole or any part of such deposits or to apply for a loan secured by such deposit. Such notice shall be for a period not exceeding 6 months, as may be determined by the commissioner. Said period may, in the commissioner's discretion, be extended up to 1 year from the date of notice. Until the notice requirement has been revoked by the commissioner, the foregoing limitations as to payments by way of withdrawal or loan applicable in case of a general requirement shall apply to such deposits.  Such bank shall not advertise for such deposits in newspapers, by posters or other written solicitation, while any requirement of notice of intention to withdraw is in effect, unless the advertisement shall contain, in type not smaller than the largest type thereof, a statement that such deposits may not be paid out, by way of withdrawal or loan, except in accordance with the terms of the requirement, which terms shall be set forth in such statement.
MA Gen L ch 167d § 14 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 14 - Agreements to Exculpate Bank From Payment of Deposit Account to Person Unlawfully Presenting Evidence of Account

Section 14. Any agreement between a depositor and any bank which exculpates such bank when a deposit account, or any part thereof, is paid by such bank 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.
MA Gen L ch 167d § 15 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 15 - Designation of Beneficiary for Pension, Profit-Sharing, Etc. Plans

Section 15. For the purposes of this section, the term ''Internal Revenue Code'' shall mean section 401(a), section 401(f), section 403(b)(7), section 408(a) or section 408(h) of the Internal Revenue Code.  Any designation of a beneficiary in connection with and as provided by an instrument intended to establish a pension, profit-sharing or other deferred compensation or retirement plan, trust or custodial account described in the Internal Revenue Code, and in effect from time to time, shall be effective according to its terms, notwithstanding any purported testamentary disposition allowed by statute, by operation of law or otherwise to the contrary. Nothing in this section shall limit, by implication or otherwise, any nonstatutory right of an employee to designate 1 or more beneficiaries of the employee's interest under any retirement plan not described in this section or under any other employee benefit plan.
MA Gen L ch 167d § 16 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 16 - Transfer of Funds of Depositor or Shareholder as Consequence of Default of Debt Owed to Bank; Notice

Section 16. If a bank as a consequence of a default of a debt owed to said bank by a depositor or shareholder, makes a transfer of funds of such depositor or shareholder to reduce or extinguish said debt, such depositor or shareholder shall be notified forthwith of such transfer by written notice sent by first class mail directed to the last known address of such depositor; provided, however, that if the debt is the result of consumer credit granted under the federal Truth in Lending Act, 15 U.S.C. 1601 et. seq., any required notice shall be made in compliance with federal law and the regulations promulgated thereunder. A depositor or shareholder to whom such notice has not been sent shall be entitled to recover the amount of any actual damages.
MA Gen L ch 167d § 17 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 17 - Set Off or Recoupment by Person Indebted to Bank

Section 17. A person indebted to a bank may, when proceeded against for the collection of such indebtedness or for the enforcement of any security therefor, set off or recoup the amount of a deposit in such bank held and owned by that person at the time of the commencement of such proceeding; provided, however, that if a proceeding in equity has been commenced to restrain the bank from doing its actual business, or if possession of such bank has been taken over by the commissioner, pursuant to section 22 of chapter 167, or as otherwise provided by law, no deposit shall be so set off or recouped by any such person unless the person held and owned the deposit on the date of the commencement of such proceeding or of possession so taken, and the right of set off or recoupment shall be determined as of such date whether the indebtedness of the depositor, or the deposit, is then due or payable or becomes due or payable at a later date. Any indebtedness against which a deposit is permitted to be set off or recouped as aforesaid may be secured or unsecured. Section 3 of chapter 232 shall not apply to a set off under this section; provided, however, that any party to a joint account may set off the joint deposit against the individual's debt to such bank. Notwithstanding the foregoing, a judgment shall not be rendered against such bank in favor of the defendant for any balance found due from it if a proceeding in equity has been commenced against the bank or possession thereof has been taken as aforesaid. The word ''deposit'', as used in this section, shall include interest due thereon.
MA Gen L ch 167d § 18 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 18 - Multiple Claimants for Deposited Funds

Section 18. If, in an action against a bank for money on deposit therewith, it appears that the same fund is claimed by another party than the plaintiff, whether by the husband or wife of the plaintiff, or otherwise, the court in which such action is pending, on the petition of the bank and on such notice to the plaintiff and to such claimants as the court considers proper, may order the proceedings to be amended by making such claimants defendants thereto, and thereupon the rights and interests of the several parties in and to said funds shall be heard and determined. Such deposits may remain with the bank until final judgment and shall be paid as the court orders, or may be paid into court to await final judgment, and when so paid into court, the action shall be discontinued as to such bank and its liability for such deposit shall cease. The taxable costs of the bank in such actions shall be in the discretion of the court and may be charged upon the fund.
MA Gen L ch 167d § 19 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 19 - Recognition by Bank of Adverse Claimants to Deposits

Section 19. No bank, federally-chartered bank or other corporation doing a banking business in the commonwealth, in this section called the depository, shall be required to recognize an adverse claim to a deposit standing on the depository's books to the credit of or to securities held for the account of any person, except by virtue of the service upon the depository of appropriate process issued by a court of competent jurisdiction in a suit or action to which such person, or the person's executors or administrators, has been made a party, unless the adverse claimant gives bond satisfactory to the depository and the adverse claimant to hold harmless and indemnify it from any liability, loss, damage, costs and expenses whatsoever on account of such adverse claim, or files with the depository an affidavit setting forth facts showing a reasonable cause for belief that a fiduciary relationship exists between such person and said adverse claimant and that such person is about to misappropriate the deposit or securities in question.
MA Gen L ch 167d § 20 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167d - Deposits and Accounts|Section 20 - Repayment of Deposits Made at Branch Located in Foreign Country Prevented by Acts of War, Impairment of Operation of Civil Authority, Etc.

Section 20. Notwithstanding any general or special law to the contrary, a bank, a federal bank or a Massachusetts branch, as defined in section 1 of chapter 167, shall not be required to repay any deposit made at a branch of such bank, federal bank or Massachusetts branch located in a foreign country, or any deposit made with any of the foregoing in the currency of a foreign country if repayment of such deposit or the use of such assets denominated in said foreign currency is prevented, prohibited or otherwise blocked due to: (a) an act of war, insurrection or civil strife; (b) any action by a foreign government or instrumentality, or authority asserting governmental, military or police power of any kind, whether such authority be recognized as a de facto or de jure government, or by any entity, political or revolutionary movement or otherwise that usurps, supervenes or otherwise materially impairs the normal operation of civil authority; or (c) the closure of such foreign branch in order to prevent, in the reasonable judgment of the bank, harm to the bank's employees or property.  The obligation to repay any such deposit shall not be transferred to and shall not be enforced against any other branch of such bank, federal bank or Massachusetts branch.  Prior to the opening of any account for a retail customer that is subject to this section and with respect to any such account in existence on the effective date of this section, upon said effective date, such bank, federal bank or Massachusetts branch shall disclose to the prospective account holder the effect of this section. Such bank, federal bank or Massachusetts branch shall also disclose to all current account holders the effect of this section. Any such bank, federal bank or Massachusetts branch which fails to provide such disclosure shall not be entitled to avail itself of this section.
MA Gen L ch 167e § 1 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167e - Mortgages and Loans|Section 1 - Definitions

Section 1. As used in this chapter, the following words, shall unless the context otherwise requires, have the following meanings:—  ''Bank'', a savings bank, co-operative bank, or trust company subject to the supervision of the commissioner of banks.  ''Capital'', (1) the sum of the capital stock, surplus account and undivided profits of a savings bank or a co-operative bank which has converted to a stockholder form of corporation, a subsidiary banking institution of a mutual holding company as defined in chapter 167H or a trust company as defined in section 1 of chapter 172; (2) the sum of the surplus account of a mutual form savings bank governed by chapter 168 or a mutual form co-operative bank governed by chapter 170. The commissioner, in his discretion, may further define or permit adjustments to the capital accounts of a bank necessary to effect the purposes of this chapter.  ''Commissioner'', the commissioner of banks.  ''Real estate'', land or property, without geographic limitation, including improved land with a dwelling, owner occupied or unoccupied dwellings, unimproved land, farmland, a unit of a condominium, shares of stock issued by a co-operative housing corporation, industrial and commercial property, leasehold interests created in air rights over land, and any other interest in land; but a loan secured by real estate shall include a loan on a leasehold under a lease which does not expire for at least 5 years beyond the maturity date of the loan.
MA Gen L ch 167e § 2 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167e - Mortgages and Loans|Section 2 - Powers

Section 2. Every bank, subject to limitations imposed by this chapter or other General Laws, shall have the following powers and whatever further incidental or complementary powers that may fairly be implied from those expressly conferred and such as are reasonably necessary to enable it to exercise fully those powers according to common customs and usages:  (1) to discount, buy, invest in, hold, assign, transfer, sell and negotiate promissory notes, drafts, bills of exchange, mortgages, trade acceptances, banker's acceptances, bonds, debentures, bonds or notes secured by mortgages, installment obligations, accounts receivable, balances due on conditional sales and other evidences of debt for its own account or for the account of customers;  (2) to advance money or credits on real estate, on improvements thereto or on personal security, on terms to be agreed upon; and  (3) to buy, sell or make loans as participation loans with another bank or with an insurance company and to service loans sold by it.
MA Gen L ch 167e § 4 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167e - Mortgages and Loans|Section 4 - Loan Policies

Section 4. (a) Each bank shall adopt and maintain comprehensive written loan policies that establish appropriate limits and standards for extensions of credit under section 3 that are consistent with safe and sound banking practices and are appropriate to the size, nature and scope of the bank's operations.  (b) The loan policies shall establish prudent loan underwriting standards that clearly and measurably address, at a minimum: (1) maximum loan to value, loan amount, loan maturities, and debt to income requirements; (2) collateral and appraisal requirements; (3) application and loan approval requirements; and (4) loan administration procedures. The written loan policies shall be reviewed and approved annually by the bank's governing board.  (c) The commissioner may by directive, guideline or regulation, establish additional minimum safe and sound lending requirements.
MA Gen L ch 167e § 5 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 167e - Mortgages and Loans|Section 5 - Inspection and Appraisal of Real Estate Securing a Loan

Section 5. (a) A bank shall inspect the real estate securing a loan in the event that a payment of interest or principal upon the loan or on account of real estate taxes upon the parcel mortgaged to secure the same shall be in default. Any such inspection shall be made in a manner consistent with and not later than the time periods specified in the policy of the bank. Periodic inspection of the parcel mortgaged shall continue in accordance with the policy until the loan is no longer in default.  (b) The commissioner may cause an appraisal of real estate to be made at the expense of the bank whenever the commissioner considers an excessive loan has been made or is about to be made upon real estate.  (c) A bank shall not directly or indirectly, make a loan or discount on the security of the shares of its own capital or on the security of the shares of capital of any company, 50 per cent or more of the assets of which consists of capital of the corporation, unless the security shall be necessary to prevent loss upon a debt previously contracted in good faith. An officer or employee of a bank who knowingly violates this section shall be punished by a fine of not more than $5,000 or by imprisonment for not more than 1 year, or both.