Section 1: Definitions
98 words·~1 min read·
/ma/part-i/title-xxii/chapter-167g/1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1. The following words as used in this chapter, unless the context otherwise requires, shall have the following meanings:
''Bank'' or ''such bank'', a savings bank, cooperative bank, trust company or limited purpose trust company.
''Capital stock'', the sum of the par value of the preferred and common shares of capital stock, issued and outstanding.
''Commissioner'', the commissioner of banks.
''Officer'', any individual designated as such in accordance with the by-laws including, whether or not so designated, the president, vice-president, treasurer, and the clerk or secretary or any individual who performs the duties appropriate to those offices.