AN ACT RELATIVE TO THE INVESTMENT OF TRUST FUNDS BY THE TOWN OF WINCHESTER.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Notwithstanding the provisions of section 54 of chapter 44 of the General
or any other general or special law to the contrary, the town of Winchester,
acting through its commissions of trust funds, may invest trust funds,
cemetery perpetual care funds, unless otherwise provided or directed by the
thereof, in any class of securities which are eligible for inclusion in the
list of legal investments for savings banks pursuant to paragraph 1 of
section 15B of chapter 167 of the General Laws, whether or not such security
has been included by the commissioner of banks on such list. All provisions of
said section 54 of said chapter 44 regarding the percentage of investment in
the securities of any one corporation shall apply to investments under the
provisions of this act. Nothing in this act shall prohibit investing such
trust funds in any investment otherwise described in said section 54.