Bill Text: MA H917 | 2009-2010 | 186th General Court | Introduced
Bill Title: Mutual holding companies and consolidations and mergers of certain banks
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-03-31 - Read second and ordered to a third reading [H917 Detail]
Download: Massachusetts-2009-H917-Introduced.html
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Thomas A. Golden, Jr.
_______________
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 revising certain provisions of the mutual holding company law.
_______________
PETITION OF:
|
Name: |
District/Address: |
|
Thomas A. Golden, Jr. |
16th Middlesex |
|
Kevin J. Murphy |
18th Middlesex |
[SIMILAR MATTER FILED IN PREVIOUS
SESSION
SEE HOUSE, NO. 963 OF 2007-2008.]
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
_______________
An Act revising certain provisions of the mutual holding company
law.
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 167H as appearing in the 2006 Official Edition is hereby amended by inserting after the definition of Commissioner the following definition:
“Interim Bank” means a Massachusetts or federally-chartered banking institution organized solely to participate in and facilitate an acquisition, reorganization or other corporate transaction.
SECTION 2. Section 7 of chapter 167H as so appearing, is hereby amended by striking out paragraph (2) and inserting in place the following new paragraph:
(2) Acquire a mutual banking institution through consolidation or merger of such institution with the subsidiary banking institution on interim bank subsidiary of such holding company.
