Chapter 482 of the Acts of 2014, An Act Modernizing the Banking Laws and Enhancing the Competitiveness of State-Chartered Banks, was approved by the General Court on December 31, 2014, and signed into law by the Governor on January 7, 2015.
As non-emergency legislation, the law becomes effective on April 7, 2015.
The law:
- provides a range of regulatory relief,
- expands the powers of Massachusetts banks to make investments and engage in new activities,
- expands the authority of Massachusetts banks in connection with corporate transactions,
- and provides new flexibility to banks in governance matters.
The Nutter Banking and Financial Services Group is pleased to provide you with an Overview and Section-by-Section Summary of the new law.
Originally published February 25, 2015
This update is for information purposes only and should not be construed as legal advice on any specific facts or circumstances. Under the rules of the Supreme Judicial Court of Massachusetts, this material may be considered as advertising.