Section 1 Definitions - Massachusetts Statutes

Section 1. As used in this chapter, the following words shall, unless the context otherwise requires, have the following meanings:—

“Bank”, an association or corporation chartered by the commonwealth under chapter 168, 170 and 172.

“Commissioner”, the commissioner of banks.

“Foreign bank”, an association or corporation authorized to do a banking business in the commonwealth, the main office of which is located outside the commonwealth, and which exists by authority of a country other than the United States.

“Governing board”, the board of directors, the board of trustees or similar board of a bank.

“Out-of-state bank”, an association or corporation authorized to do a banking business in the commonwealth, the main office of which is located outside the commonwealth, and which exists by the authority of a state of the United States except the commonwealth.

“Out-of-state branch”, a branch of a bank located outside the commonwealth.

“Out-of-state federal bank”, a national banking association, savings and loan association or savings bank that exists by authority of the United States, the main office of which is located outside the commonwealth.