§ 5 — Investigation fees; classifications and differentiations of banks

Massachusetts § 5

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XXII: CORPORATIONS
• Ch. 167C: BANK LOCATIONS

Text

Section 5. Every notice or application to change the location of the main office to establish and maintain 1 or more branch offices or depots, or to change the location or close 1 or more branch offices or depots shall be accompanied by payment of an investigation fee, the amount of which shall be determined annually by the commissioner of administration under section 3B of chapter 7 of the General Laws. To determine the investigation fee to establish a branch office, the commissioner of administration may make such classifications and differentiations of banks and may provide adjustments to the fee as are necessary; provided, however, that such classifications and differentiations may be based on: (i) the asset size of the bank; (ii) the number of existing branch offices of the bank; or (iii) other criteria as determined by the commissioner of administration; provided further, that the fee shall be consistent with and equal to the amount of the investigation fee to establish a branch office imposed on credit unions in section 8 of chapter 171.