§ 8 — Cooperative agreements with other jurisdictions for regulatory supervision of branches

Massachusetts § 8

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

Text

Section 8. Notwithstanding any other law to the contrary, the commissioner may enter into a cooperative agreement with bank regulators in jurisdictions other than the commonwealth to facilitate the regulatory supervision of Massachusetts and out-of-state branches including an agreement relative to the coordination of examinations or joint participation in examinations of the branches, and may accept reports of examinations by the regulators pursuant to the agreement. The commissioner may also enter into an agreement providing for enforcement actions against Massachusetts and out-of-state branches. The agreement may include provisions relative to the amount and assessment of fees for an examination or enforcement action. Nothing in this section shall be construed to limit the authority of the commissioner to independently conduct examinations of and enforcement actions against a branch.