{"data":{"id":"us-ma/mass.-gen.-laws-ch.-168-16","jurisdiction":"us-ma","citation":"Mass. Gen. Laws ch. 168, § 16","heading":"Board of investment of mutual bank","body":"Section 16. (a) A mutual bank shall have a board of investment consisting of not less than 5 members, who shall be trustees of the corporation. Only 1 of the persons holding the office or performing the duties of president, executive vice president, senior vice president or treasurer shall at the same time be a member of the board of investment. The board shall elect a clerk who may, but need not be, a member of the board. The board of investment may invite 1 or more trustees who are not members of the board to attend its meetings during the monthly, quarterly or semi-annual periods as the board may determine.\n(b) At least quarterly, the treasurer or other officer designated by the board of investment shall submit to the board of investment, a written report, over the treasurer or other officer's signature, covering the period for which the report has not yet been submitted.","path":["Part I","Title XXII","Chapter 168"],"source_url":"https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter168/Section16","current_through":"amendments passed before May 31, 2026","vintage":"","retrieved_at":"2026-09-17T05:24:00Z","sha256":"346d97f1d4d74ab890eeb41e1a49e1230b6ea68b42fb83f3ce6b0fc6f7eb2e39","source_id":"us-ma","stale":false,"prev":"us-ma/mass.-gen.-laws-ch.-168-15","next":"us-ma/mass.-gen.-laws-ch.-168-17"},"notice":"GroundRules: Original legal text. Not legal advice."}