§ 1 Definitions
§ 2 Reorganization of mutual banking institution
§ 3 Notice of proposed reorganization to commissioner; factors to be considered
§ 4 Board of corporators; members; term; election
§ 5 Application for proposed formation of subsidiary banking institution; factors to be considered; issuance of charter
§ 6 Rights, powers and privileges of reorganized mutual banking institution; corporate governance procedures
§ 7 Mutual holding company; powers and duties
§ 8 Registration with commissioner; requisite information
§ 9 Conversion to stock holding company
§ 10 Acquisition or merger with another holding company
§ 11 Subsidiary banking institution; issuance of securities to general public
§ 12 Conversion of mutual holding company to a mutual banking institution
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Terms Used In Massachusetts General Laws > Chapter 167H - Mutual Holding Companies

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • Fiduciary: A trustee, executor, or administrator.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Oath: A promise to tell the truth.
  • 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.