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December 21, 2024 Clouds | 28°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 171 CREDIT UNIONS
  5. Section 47 Agreements exculpating credit union for wrongful payment of account

Section 47

Section 47: Agreements exculpating credit union for wrongful payment of account

Section 47. Any agreement between a depositor or shareholder and any credit union which exculpates such credit union when an account, or any part thereof, is paid by such credit union to a person unlawfully presenting a passbook, or other instrument as evidence of such account is hereby declared to be contrary to public policy and void.