General Laws

Section 6. Upon the reorganization of a mutual banking institution into a mutual holding company, the mutual holding company shall (i) continue to possess and may exercise all the rights, powers and privileges, except deposit-taking powers, and shall be subject to all the limitations not inconsistent with this chapter of a mutual banking institution under applicable state law, and (ii) be subject to the limitations and restrictions imposed on bank holding companies by chapter one hundred and sixty-seven A and by applicable federal law and regulations, but shall not be authorized to exercise any rights, powers or privileges granted pursuant to such acts that are not also granted pursuant to this chapter.