Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2023 | Updated by FindLaw Staff
The commissioner of banks shall annually prepare and submit a list to the investment committee established under the provisions of section twenty-three of chapter thirty-two and the state treasurer which indicates those banks, as defined in section one, which have satisfied their continuing and affirmative obligations to help meet the needs of the local communities in which they are chartered, including low and moderate-income neighborhoods, as set forth in section fourteen.
Only mortgage lenders so listed shall be eligible to sell or participate in the sale of mortgage pass-through securities or mortgage-backed bonds to public employee retirement systems. Only banks so listed shall be eligible to receive deposits under the provisions of section thirty-four or thirty-four A of chapter twenty-nine.
The commissioner of banks shall also prepare and submit annually to said investment committee and the state treasurer a list, based on information received from the appropriate federal agency, which indicates those federal savings and loan associations and national banking associations which have been determined by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the Office of the Comptroller of the Currency to have complied with the requirements of the Federal Community Reinvestment Act, 1 sections 802 et seq., of Title VIII of P.L. 95-128, and regulations promulgated thereunder. Only those associations so listed shall be eligible to sell such securities or bonds to such systems, and to receive deposits under the provisions of section thirty-four or thirty-four A of chapter twenty-nine.
Cite this article: FindLaw.com - Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 167, § 15 - last updated January 01, 2023 | https://codes.findlaw.com/ma/part-i-administration-of-the-government-ch-1-182/ma-gen-laws-ch-167-sect-15/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)