Amendment #1288 to H4600

DIF

Mr. Murphy of Weymouth moves to amend the bill by adding the following section:

SECTIONXXXX (a) Section 1 of chapter 44 of the acts of 1932 as most recently amended by section 5 of chapter 21 of the acts of 2020 is hereby amended by adding the following sentence: the term “former member bank” shall mean a savings bank or a co-operative bank without excess deposit insurance after withdrawing from membership pursuant to section seventeen of chapter 43 of the acts of 1934.

(b) The third subparagraph of paragraph (a) of section 17 of chapter 43 of the acts of 1934, inserted by section 29 of chapter 64 of the acts of 1999, is hereby amended by striking out the third sentence.

(c) The fourth sentence of said third paragraph of said paragraph (a) of said section 17 is hereby amended by striking out the words “Upon such conversion” and inserting in place thereof the following words: Upon such notification of intent to withdraw.

(d) The last sentence of the fourth subparagraph of paragraph (a) of said section 17 of said chapter 43, added by section 21 of chapter 21 the acts of 2020 is hereby amended by striking out the words “withdrawn pursuant to section 17A” and inserting in place thereof the word: withdrawn.

(e) Section 17A of said chapter 43 is hereby repealed.