Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 10, § 2

The state treasurer shall give bond in the sum of one hundred thousand dollars, with at least three sureties approved by the governor and council, or with a surety company as sole surety as provided in section one hundred and five of chapter one hundred and seventy-five, payable to the commonwealth, conditioned that he and all persons employed in his department shall faithfully discharge their duties and trusts; that he shall use all necessary and reasonable diligence and care in the safe keeping and lawful disposition of all money, bonds, notes, papers, books and other things pertaining to his department which shall come to his hands or to the hands of the persons employed by him; that he shall, upon reasonable notice, render true accounts of his doings when thereto required by law or by the senate or house of representatives; that he shall deliver over to his successor in office or to such other person as may be authorized to receive the same all money, bonds, notes, papers, books and other things belonging to said department; and that all balances and defalcations which shall appear against him shall forthwith be paid by him to the commonwealth.