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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE II EXECUTIVE AND ADMINISTRATIVE OFFICERS
    OF THE COMMONWEALTH
  • CHAPTER 10 DEPARTMENT OF THE STATE TREASURER
  • Section 10A Preferential deposits of cash reserves to lending and banking institutions that lend to small businesses

Section 10A. The state treasurer shall whenever possible, establish a preference in the deposit of the commonwealth’s cash reserves to those lending and banking institutions that exceed the statewide average for lending to small businesses, as defined in section 57 of chapter 23A; provided, however, that this shall not prohibit the treasurer from depositing and investing said reserves in such a manner as to secure the highest rate of return available consistent with the safety of said reserves.