HOUSE DOCKET, NO. 1175        FILED ON: 1/16/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 927

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Daniel Cahill

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act making substantive changes to the revised banking laws.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Daniel Cahill

10th Essex

1/16/2019


HOUSE DOCKET, NO. 1175        FILED ON: 1/16/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 927

By Mr. Cahill of Lynn, a petition (accompanied by bill, House, No. 927) of Daniel Cahill relative to making substantive changes to the revised banking laws.  Financial Services.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-First General Court
(2019-2020)

_______________

 

An Act making substantive changes to the revised banking 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 1. Section 16 of chapter 167D of the General Laws, as appearing, in the 2016 Official Edition is hereby amended by striking out, in lines 6 to 9, the words “no such transfer shall be made if the debt is the result of consumer credit granted under the federal Truth in Lending Act, 15 U.S.C. section 1601 et. seq.” and inserting in place thereof the following words:- if the debt is the result of consumer credit granted under the federal Truth in Lending Act, 15 U.S.C. section 1601 et. seq. then notice, if any, shall be made in compliance with the federal act and the regulations promulgated thereunder.

SECTION 2. Clause (2) of section 7 of chapter 167H, as so appearing, is hereby amended by striking out, in line 11, the words “ form and” and inserting in place thereof the words:- form, an out–of-state-bank, as defined in section 1 of chapter 167 in mutual form, and.

SECTION 3. Section 11 of chapter 167J, as so appearing, is hereby amended by striking out, in lines 7 and 8, the word “submitted” and inserting in place thereof the following words:- submitted  or as of the close of the last business day of the preceding month or as of the close of a business day not more than ten days prior to the date of the meeting.