Bill Text: MA H916 | 2009-2010 | 186th General Court | Introduced

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Bill Title: The establishment of branches by a bank or an out-of-state bank in the Commonwealth

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-03-29 - Committee reported that the matter be placed in the Orders of the Day for the next sitting for a second reading [H916 Detail]

Download: Massachusetts-2009-H916-Introduced.html

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The Commonwealth of Massachusetts

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PRESENTED BY:

Thomas A. Golden, Jr.

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
                Court assembled:

                The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:

An Act relative to bank branches.

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PETITION OF:

 

Name:	District/Address:
Thomas A. Golden, Jr.	16th Middlesex
Denise Provost	27th Middlesex
David M. Nangle	17th Middlesex

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 962 OF 2007-2008.]

The Commonwealth of Massachusetts

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In the Year Two Thousand and Nine

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An Act relative to bank branches.

                Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

            SECTION 1.                Section 1 of Chapter 167C, as appearing in the 2006 Official Edition, is hereby amended by adding, the following definitions:   

“Affiliate”, any company that controls, is controlled by, or is under common control with another company. 

“Commercial Activities”, activities in which a bank holding company, a financial holding company, a national bank or a national bank financial subsidiary may not engage under federal law. 

SECTION 2: Section 3 of Chapter 167C is hereby amended by inserting at the end of the first paragraph the following sentence:  A bank or an out-of-state bank may not establish or maintain a branch in the commonwealth on the premises or property of an affiliate if the affiliate engages in commercial activities as defined under 12 U.S. C 1841 et.seq...