Section 7: Payment of interest on deposit accounts
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/ma/part-i/title-xxii/chapter-167j/7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7. A bank may pay interest on deposit accounts in accordance with applicable law. Rates of interest may vary based on the type of account or on the terms and conditions applicable to the account. Such corporation by its by-laws, may provide that fractional parts of a dollar shall not be included in principal in computing interest and may provide that interest shall not be paid on deposits of less than $10.