Massachusetts General Laws
Mass. Gen. Laws ch. 26, § 5 (2026)
Board of bank incorporation
✓ current as of July 2026
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Section 5. There shall be a board of bank incorporation serving in the division, consisting of the state treasurer, the commissioner of banks and the commissioner of revenue.
Notes of Decisions
Cited in 4
cases, 1924–1971 · leading case: Commonwealth v. Beneficial Fin. Co., 275 N.E.2d 33 (Mass. 1971).
Commonwealth v. Beneficial Fin. Co., 275 N.E.2d 33 (Mass. 1971). “G. L. c. 26, §§ 5, 5A. In 1962, the members of the Rate Board were John T.”
Chicopee Co-Operative Bank v. Bd. of Bk. Incorporation, 200 N.E.2d 284 (Mass. 1964). “*752 We feel further strengthened in our holding by the fact that G. L. c. 26, § 5, which established the board, prescribes no general duties for it and grants no general powers to it.”
Guar. Trust Co., 248 Mass. 319 (Mass. 1924). “No certificates under G. L. c. 26, § 5, G. L. c. 167, § 37, G. L.”
Opinion of the Justices to the Senate, 278 Mass. 613 (Mass. 1932). “(G. L. c. 26, § 5.) Provision is made for the organization of the corporation, selection of directors, and other officers, the adoption of by-laws, supervision and examination of its affairs by the commissioner of banks, distribution of its earning in dividends to member banks,…”
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