§ 1 Definitions
§ 2 Merger or consolidation of mutual banks or thrift institutions into single mutual bank or thrift institution
§ 3 Merger or consolidation of stock banks, federally-chartered banks, out-of-state banks and limited purpose trust companies into single stock bank, federally-chartered bank or out-of-state bank
§ 4 Merger or consolidation of mutual banks or subsidiary banking institutions and credit unions or federal credit unions into single mutual bank or subsidiary banking institution
§ 5 Expedited consolidation or sale of assets of bank certified as unsafe to transact business
§ 6 Age and concentration limitations for approval of application for merger or consolidation
§ 7 Articles of consolidation or merger
§ 8 Advance, loan upon or purchase of whole or part of assets or stock of any bank, etc., in possession of commissioner pursuant to Secs. 22 to 36 of chapter 167 or assisted by or in possession of insurer
§ 9 Conversion of mutual bank to stock bank
§ 10 Conversion of credit union to mutual bank
§ 11 Consolidation, merger or conversion of mutual bank or stock bank into federally-chartered bank or thrift institution
§ 12 Conversion of federally-charted bank or thrift institution into bank chartered pursuant to chapter 168, 170 or 172
§ 13 Plan of acquisition of stock by company acquiring all the capital stock of any stock bank
§ 14 Notice of proposed acquisition of control of stock bank; disapproval of proposed acquisition
§ 15 Dissolution and liquidation of bank
§ 16 Termination of membership of savings bank in Depositors Insurance Fund upon merger or consolidation into bank, federally chartered bank or out-of-state bank or upon acceptance of federal charter; effect of acceptance of federal charter; effect of conversi
§ 17 Notice to Depositors Insurance Fund upon proposal to merge or consolidate co-operative bank into a bank or upon conversion to federal charter; effect of acceptance of federal charter; effect of conversion of federal bank or federal thrift into co-operativ
§ 18 Interim banks
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Terms Used In Massachusetts General Laws > Chapter 167I - Corporate Bank Transactions: Mergers, Consolidations, Purchase of Assets and Conversions

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. Source: OCC
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Interests: includes any form of membership in a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Trustee: A person or institution holding and administering property in trust.