Mass. Gen. Laws » Part I Title XXII Chapter 167
Massachusetts General Laws

Mass. Gen. Laws ch. 167, § 1 (2026)

Definitions

✓ current as of July 2026
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Section 1. As used in this chapter, the following words shall, unless the context otherwise requires, have the following meanings:—

''Bank'', any association or corporation chartered by the commonwealth under chapter 168, 170, 171 or 172, or an individual, association, partnership or corporation incorporated or doing a banking business in the commonwealth subject to the supervision of the commissioner.

''Commissioner'', the commissioner of banks.

''Cooperative bank'', an association or corporation chartered pursuant to chapter 170.

''Credit union'', an association or corporation chartered pursuant to chapter 171.

''Federal bank'', a national banking association, savings and loan association or savings bank that exists by authority of the United States, the main office of which is located in the commonwealth.

''Federal branch'', a branch in the commonwealth of any out-of-state federal bank.

''Foreign bank'', an association or corporation authorized to do a banking business the main office of which is located outside the commonwealth and which exists by authority of a country other than the United States.

''Internet bank'', a bank, federal bank, foreign bank or out-of-state bank that provides its services exclusively or primarily through the internet.

''Limited purpose trust company'', an association or corporation chartered pursuant to section 9A of chapter 172.

''Massachusetts bank'', a bank, other than an association or corporation chartered pursuant to chapter 171.

''Massachusetts branch'', a branch in the commonwealth of an out-of-state bank.

''Out-of-state bank'', an association or corporation authorized to do a banking business, the main office of which is located outside the commonwealth and which exists by authority of a state of the United States except the commonwealth.

''Out-of-state branch'', a branch of a Massachusetts bank located outside the commonwealth.

''Out-of-state federal bank'', a national banking association, savings and loan association or savings bank that exists by authority of the United States, the main office of which is located outside the commonwealth.

''Savings bank'', an association or corporation chartered pursuant to chapter 168.

''State'', a state, commonwealth or territory of the United States, the District of Columbia, or a foreign country.

''Trust company'', an association or corporation chartered pursuant to chapter 172.

Notes of Decisions
Cited in 11 cases (2 in the last 5 years), 1923–2022 · leading case: Commonwealth v. Labadie, 3 N.E.3d 1093 (Mass. 2014).
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Commonwealth v. Labadie, 3 N.E.3d 1093 (Mass. 2014). · cites it 5× “Because the Commonwealth must prove beyond a reasonable doubt under § 52 that the victim was a “bank, as defined in [G. L. c. 167, § 1],” and because a Federal credit union is not a “bank” within this definition, we conclude that the defendants are entitled to judgments of…”
Commonwealth v. Labadie, 972 N.E.2d 66 (Mass. App. Ct. 2012). · cites it 6× “As the emphasized language indicates, only thefts from banks that fall within the definition contained in G. L. c. 167, § 1, are subject to prosecution under the statute.”
First Fiduciary Corp. v. Comm'r of Banks, 684 N.E.2d 1 (Mass. App. Ct. 1997). “We conclude that, because its activities are limited to corporate trusteeship and do not involve deposits, loans, or *458 other areas of banking business, First Fiduciary is not a bank for purposes of G. L. c. 167, § 1, and is not subject to OCB’s oversight under G.”
Cosmopolitan Trust Co. v. Cohen, 244 Mass. 128 (Mass. 1923). “399, now G. L. c. 167, §§ 1, and 22-36, as to the powers conferred upon the commissioner of banks to take possession of the property and business of a delinquent trust company and to liquidate its affairs was constitutional.”
Commonwealth-Atl. Nat'l Bank, 249 Mass. 440 (Mass. 1924). “The supervision of trust companies is vested in the commissioner of banks under G. L. c. 167, §§ 1 to 11, both inclusive.”
Pioneer Credit Corp. v. Comm'r of Banks, 207 N.E.2d 51 (Mass. 1965). “255B are unconstitutionally discriminatory inasmuch as banks (as defined in G. L. c. 167, § 1) and national banking associations need not be licensed under G.”
Olson v. Sissenwine, 156 N.E. 32 (Mass. 1927). “G. L. c. 167, § 1. Borrowing from cooperative banks and securing the loan by mortgage on real estate is a matter of such frequent occurrence that the contracting parties would be presumed to have knowledge of it, and it must be held that, when making the agreement to place…”
Comm'r of Banks v. Commonwealth-Atl. Nat'l Bank, 248 Mass. 302 (Mass. 1924). “” The sections specified are those relating to the liquidation of banks (which includes trust companies, G. L. c. 167, § 1) by the *307 commissioner of banks.”
Budrow v. Nat'l City Mortg. Co. (D. Mass. 2022). “To begin, there are no private rights of actions under Mass. Gen. Laws ch. 167, §§ 1–21 and Mass.”
Dream Capital Mgmt. LLC v. Deutsche Bank Nat'l Trust Co. (D. Me. 2022). “See Mass. Gen. Laws ch. 167, § 1 (2022) (defining a “[b]ank” as “any association or corporation chartered by the commonwealth under chapter 168, 170, 171 or 172, or .”
Thayer v. City of Worcester, 979 F. Supp. 2d 143 (D. Mass. 2013). ““Rbnk"shall mean the same as defined in M.G.L. c. 167, § 1. “CtecFrm/nn.gtamm1’shall mean thesameas that defined by M.”
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