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General Laws

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Section 1Definitions
Section 1APowers
Section 2Agreement to form co-operative bank; subscribers
Section 3Change of corporate name
Section 4Notice and application to board of bank incorporation; certificate; hearing; special surplus fund
Section 5First meeting of subscribers
Section 6Articles; certificate of incorporation
Section 7By-laws
Section 8Members; voting rights
Section 9Board of directors; clerk; directors and officers; records of meetings
Section 10Directors or officers serving in same capacity for other financial institutions
Section 11Security committee; finance committee
Section 12Treasurer; duties; assistant treasurer
Section 13Duties of treasurer under other provisions of law
Section 14Powers and duties of commissioner; audit
Section 15Bond of officers and employees
Section 16Misconduct of officer, director, agent or employee
Section 17Fee, commission, gift, or other consideration for or in connection with business of corporation
Section 18Report to commissioner; balance sheet
Section 19Loans or extension of credit to officers or directors
Section 19AViolations; penalty
Section 20Distribution of net profits
Section 20AComputation and rate of dividends and interest
Section 21Surplus accounts
Section 22Minimum reserves
Section 23Reserve balances
Section 24Advance, loan upon or purchase of bank assets or stock
Section 25Consolidation of co-operative banks
Section 26Consolidation on expedited basis
Section 26AMerger or consolidation of co-operative bank and savings bank
Section 26BMerger or consolidation of co-operative banks and thrift institutions
Section 26CConversion of co-operative bank to stockholder owned form of corporation
Section 26DConsolidation or merger of co-operative bank converted into stock corporation into single state or federally-chartered stock corporation
Section 26EConversion of co-operative bank to stock holder owned form of corporation
Section 26FMerger or consolidation of credit unions and corporations into single cooperative bank
Section 26GRestrictions on approval of merger or consolidation applications
Section 26HConversion of credit union into co-operative bank in mutual form
Section 27Dissolution and liquidation
Section 28Conversion of co-operative bank to federal savings and loan association or federal savings bank
Section 29Conversion of federal savings and loan association to co-operative bank
Section 30Co-operative Banks Employees Retirement Association
Section 31By-laws of retirement association
Section 32Retirement association property, etc.; tax exemption, attachment, execution or assignment
Section 33Co-operative Banks Employees Benefit Association
Section 34By-laws of benefit association
Section 35Benefit association property; tax exemption, attachment, execution or assignment