Session Laws

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to immediately authorize members of the board of directors of co-operative banks to continue to serve beyond the age of seventy-two, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Section 9 of chapter 170 of the General Laws, as appearing in the 1984 Official Edition, is hereby amended by striking out the second sentence and inserting in place thereof the following sentence:- The shareholders shall elect the directors, each of whom shall be a citizen of the United States and a resident of the commonwealth at the time of his election.