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General Laws

Section 1. The following words as used in this chapter, unless the context otherwise requires, shall have the following meanings:—

“Annual meeting”, the meeting of corporators required by section nine A to be held annually.

“Commissioner”, the commissioner of banks.

“Corporator”, an original incorporator, or a person elected as a corporator as provided by section nine.

“Deposit book”, a passbook or other instrument which a savings bank issued to the depositor as evidence of his account.

“Interest”, payments to depositors as provided by section twenty-nine.

“Guaranty fund, surplus, unallocated reserves and undivided profits”, the surplus accounts required to be established and maintained by section twenty-seven.

“Savings bank”, a savings bank, institution for savings or savings institution incorporated as such in this commonwealth.

“Such corporation” or “such bank”, a savings bank, institution for savings and a savings institution incorporated as such in this commonwealth.

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