Massachusetts General Laws

Mass. Gen. Laws ch. 167E, § 2 (2026)

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Section 2. Every bank, subject to limitations imposed by this chapter or other General Laws, shall have the following powers and whatever further incidental or complementary powers that may fairly be implied from those expressly conferred and such as are reasonably necessary to enable it to exercise fully those powers according to common customs and usages:

(1) to discount, buy, invest in, hold, assign, transfer, sell and negotiate promissory notes, drafts, bills of exchange, mortgages, trade acceptances, banker's acceptances, bonds, debentures, bonds or notes secured by mortgages, installment obligations, accounts receivable, balances due on conditional sales and other evidences of debt for its own account or for the account of customers;

(2) to advance money or credits on real estate, on improvements thereto or on personal security, on terms to be agreed upon; and

(3) to buy, sell or make loans as participation loans with another bank or with an insurance company and to service loans sold by it.

Notes of Decisions

Cited in 2 cases, 1994–1997 · leading case: Salois v. Dime Sav. Bank, 128 F.3d 20 (1st Cir. 1997).

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Salois v. Dime Sav. Bank, 128 F.3d 20 (1st Cir. 1997). · cites it 2× “93A, on the basis that, although Dime may have been in violation of Mass. Gen. Laws ch. 167E, §§ 2(B)(9) and (10) — which prohibit the alteration of a payment amount more than once a year and the alteration of the interest rate more than every six months — plaintiffs had not…”

South Boston Sav. Bank v. Comm'r of Revenue, 640 N.E.2d 462 (Mass. 1994). · cites it 3× “, G. L. c. 167E, § 2(A), as appearing in St.”

— Mass. Gen. Laws ch. 167E, § 2(A) — 1 case

South Boston Sav. Bank v. Comm'r of Revenue, 640 N.E.2d 462 (Mass. 1994). “, G. L. c. 167E, § 2(A), as appearing in St.”

— Mass. Gen. Laws ch. 167E, § 2(B)(12) — 1 case

South Boston Sav. Bank v. Comm'r of Revenue, 640 N.E.2d 462 (Mass. 1994). “, G. L. c. 167E, § 2(A), as appearing in St.”

— Mass. Gen. Laws ch. 167E, § 2(B)(9) — 1 case

Salois v. Dime Sav. Bank, 128 F.3d 20 (1st Cir. 1997). “93A, on the basis that, although Dime may have been in violation of Mass. Gen. Laws ch. 167E, §§ 2(B)(9) and (10) — which prohibit the alteration of a payment amount more than once a year and the alteration of the interest rate more than every six months — plaintiffs had not…”

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