§ 1 Definitions
§ 2 Bond of officers and employees of bank
§ 3 Duties of treasurer of bank under other provisions of law
§ 4 Misconduct of officer, director, agent or employee of bank
§ 5 Fee, commission, gift or other consideration in connection with business of corporation
§ 6 Penalty for violations of Secs. 5 or 10
§ 7 Payment of interest on deposit accounts
§ 8 Trustee, director or other officer of bank simultaneously serving in same capacity for certain other institutions
§ 9 Annual statement of condition of bank
§ 10 Loans or extensions of credit to officer, director or trustee of bank
§ 11 Quarterly written reporting of summary of transactions and other information requested by board
§ 12 Audit of balance sheet and other financial statements of mutual bank
§ 13 Maintenance of capital and surplus or surplus account deemed adequately capitalized
§ 14 Capital stock of stock corporation
§ 15 Report of transfer of stock resulting in ownership of 10 per cent or more of outstanding stock with voting power
§ 16 Determination of record date of right to notice of and to vote at stockholder’s meeting
§ 17 Declaration of dividends
§ 18 Grant of options to purchase, issue and sell shares of capital stock to directors, officers and employees
§ 19 Stock purchase plans, restricted stock purchase plans and stock grant plans for employees, officers and directors
§ 20 Issue and sale of capital notes and debentures
§ 21 Election of alternative corporate governance procedures; designation in by-laws of body of law selected for corporate governance procedure
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Terms Used In Massachusetts General Laws > Chapter 167J - Corporate Governance Provisions and Requirements

  • 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
  • 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.
  • 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.
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Interests: includes any form of membership in a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Trustee: A person or institution holding and administering property in trust.