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2019 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 (2019)
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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