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2019 Massachusetts General Laws
Part I - Administration of the Government
Title XXII - Corporations
Chapter 164 - Manufacture and Sale of Gas and Electricity
Section 22 - Deposits
Universal Citation: MA Gen L ch 164 § 22 (2019)
Section 22. All deposits of funds of corporations subject to this chapter shall be made by the officers thereof in national banks, duly chartered trust companies, savings banks, co-operative banks or federal savings and loan associations; but the foregoing provision shall not apply to any deposit for a period of not more than sixty days made for the purpose of meeting obligations maturing within said period, or to any deposit for a similar period of time resulting from the sale of obligations or securities.
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