Massachusetts § 50 Shares or accounts pledged as security; transfer, assignment or credit at foreclosure

Massachusetts Statutes

§ 50 — Shares or accounts pledged as security; transfer, assignment or credit at foreclosure

Massachusetts § 50

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 171CREDIT UNIONS

This text of Massachusetts § 50 (Shares or accounts pledged as security; transfer, assignment or credit at foreclosure) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mass. Gen. Laws ch. 171, § 50 (2026).

Text

Section 50. In the event that any shares or accounts which are pledged as security for any loan are sold, forfeited, transferred, assigned or credited for the non-performance of the conditions of such loan or on the foreclosure thereof or for any other lawful purpose, a duly authorized officer of the corporation shall have full authority to transfer, assign or credit such shares or accounts to the bank or purchaser at any foreclosure or other sale to any assignee.

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Section 50. In the event that any shares or accounts which are pledged as security for any loan are sold, forfeited, transferred, assigned or credited for the non-performance of the conditions of such loan or on the foreclosure thereof or for any other lawful purpose, a duly authorized officer of the corporation shall have full authority to transfer, assign or credit such shares or accounts to the bank or purchaser at any foreclosure or other sale to any assignee.

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Bluebook (online)

Massachusetts § 50, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/171/50.