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Form a Business

Deposits

M.G.L. c. 164, § 22
in effect
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c. 164, § 22. Deposits Section 22. 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.
Source: Massachusetts General Court (malegislature.gov)URL: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter164/Section22Fetched: 10/20/2026

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