Massachusetts General Laws Part II. Real and Personal Property and Domestic Relations (Ch. 183-210) Ch. 200A, § 15C

(1) such charges and such cessation of interest are provided for in a valid, enforceable and written contract between the holder and the customer which specifies the amount of such charges and that interest will cease;

(2) the customer is notified prior to the imposition of such charges and cessation of interest; and

(3) it is not the policy of the holder to waive such charges or to restore interest. No holder shall deduct from the amount of any draft, registered check, money order, certified check, cashier's check or treasurer's check or any similar written instrument any charges imposed by reason of the failure to present such items for encashment unless such charges are provided for in a valid enforceable and written contract and it is not the policy of the holder to waive such charges.