Section 10: Acquisition or merger with another holding company
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/ma/part-i/title-xxii/chapter-167h/10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 10. If a mutual holding company acquires or merges with another holding company under the provisions of clause
(3)of section seven, the holding company acquired or the holding company resulting from such merger or acquisition may only invest in assets and engage in activities which are authorized under section seven.
Not later than two years following any such merger or acquisition, the acquired holding company or the holding company resulting from such merger or acquisition shall
(i)dispose of any asset which is an asset in which a mutual holding company may not invest under section seven, and
(ii)cease any activity which is an activity in which a mutual holding company may not engage under said section seven.