Section 29 Payment of interest - Massachusetts Statutes

Section 29. Such corporation may pay interest on deposit accounts in accordance with applicable law. Rates of interest may vary based on the type of account or on the terms and conditions applicable to the account. Such corporation by its by-laws, may provide that fractional parts of a dollar shall not be included in principal in computing interest, and may provide that interest shall not be paid on deposits of less than ten dollars; but interest for each full dollar shall be paid on deposit accounts established under section ten of chapter one hundred and sixty-seven D having balances of three dollars or more.