Session Laws

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to immediately regulate the appointment of the auditing committee of savings banks, 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 16 of chapter 168 of the General Laws, as appearing in the 1984 Official Edition, is hereby amended by striking out the first sentence and inserting in place thereof the following sentence:- At least once during each twelve-month period, the trustees shall elect an auditing committee of not less than three trustees who shall not be operating officers or members of the board of investment.