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The 189th General Court of the Commonwealth of Massachusetts

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.