Budget Amendment ID: FY2025-S4-271

ECO 271

DIF

Mr. Feeney moved that the proposed new text be amended by inserting after section ___ the following sections: -

"SECTION ___. The fourth paragraph of section 1 of chapter 44 of the acts of 1932, as appearing in section 5 of chapter 21 of the acts of 2020, is hereby amended by adding the following sentence:- As used in this act, 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 17 of chapter 43 of the acts of 1934.

SECTION ___. The third subparagraph of paragraph (a) of section 17 of chapter 43 of the acts of 1934, as appearing in section 29 of chapter 64 of the acts of 1999, is hereby amended by striking out the third sentence.

SECTION ___. The fourth sentence of said third subparagraph of said paragraph (a) of said section 17 of said chapter 43, as so appearing, is hereby amended by striking out the words “Upon said conversion” and inserting in place thereof the following words:- Upon such notification of intent to withdraw.

SECTION ___. The last sentence of the fourth subparagraph of said paragraph (a) of said section 17 of said chapter 43, inserted by section 21 of chapter 21 the acts of 2020, is hereby amended by striking out the words “pursuant to section 17A”.

SECTION ___. Section 17A of said chapter 43 is hereby repealed."