Session Laws

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

Section 19 of chapter 172 of the General Laws, as appearing in the 1984 Official Edition, is hereby amended by adding the following paragraph:-

Notwithstanding the provisions of this section, a director, officer or employee of a trust company may at the same time be a director, officer or employee of a banking institution if such trust company and banking institution are affiliates of the same bank holding company. For the purposes of this section, the terms "banking institution" and "affiliate" shall have the same meanings as set forth in section one of chapter one hundred and sixty-seven A.