§ 13 — Maintenance of capital and surplus or surplus account deemed adequately capitalized

Massachusetts § 13

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XXII: CORPORATIONS
• Ch. 167J: CORPORATE GOVERNANCE PROVISIONS AND REQUIREMENTS

Text

Section 13. A bank shall maintain capital and surplus if a stock corporation or a surplus account if a mutual institution necessary to be deemed, at a minimum, adequately capitalized as determined by the federal deposit insurance agency which insures the deposits of the bank or, if applicable, by the commissioner.