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April 25, 2024 Clear | 55°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part I ADMINISTRATION OF THE GOVERNMENT
  3. Title XXII CORPORATIONS
  4. Chapter 167J CORPORATE GOVERNANCE PROVISIONS AND REQUIREMENTS
  5. Section 13 Maintenance of capital and surplus or surplus account deemed adequately capitalized

Section 13

Section 13: Maintenance of capital and surplus or surplus account deemed adequately capitalized

Section 13. A bank shall maintain capital and surplus if a stock corporation or a surplus account if a mutual institution necessary to be deemed, at a minimum, adequately capitalized as determined by the federal deposit insurance agency which insures the deposits of the bank or, if applicable, by the commissioner.