2017 Massachusetts General Laws
PART I ADMINISTRATION OF THE GOVERNMENT
TITLE XXII CORPORATIONS
Chapter 167J CORPORATE GOVERNANCE PROVISIONS AND REQUIREMENTS
Section 10 Loans or extensions of credit to officer, director or trustee of bank

Universal Citation: MA Gen L ch 167J § 10 (2017)

Section 10. An officer, director or trustee of a bank, except as provided in this section, shall not borrow from or otherwise become indebted to the bank of which the individual is an officer, director or trustee and a bank, except as provided in this section, shall not make a loan or extend credit in any other manner to any of its officers, directors or trustees. An officer, director or trustee of a bank may borrow and a bank may make a loan or extend credit to its officers, directors or trustees subject to the terms and conditions set forth in clause (6) of section 2I of chapter 167.

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