§ 257. Duties of trustees and officers.
1.Trustees and officers shall\ndischarge the duties of their respective positions in good faith and\nwith that degree of diligence, care and skill which prudent men would\nexercise under similar circumstances in like positions. In discharging\ntheir duties, trustees and officers, when acting in good faith, may rely\n(a) upon financial statements of the savings bank represented to them to\nbe correct by the president or the officer of the savings bank having\ncharge of the books of account, or stated in a written report by an\nindependent public or certified public accountant or firm of such\naccountants fairly to reflect the financial condition of such savings\nbank and (b) upon reports required to be submitted to them by any\nprovision of this ch
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§ 257. Duties of trustees and officers. 1. Trustees and officers shall\ndischarge the duties of their respective positions in good faith and\nwith that degree of diligence, care and skill which prudent men would\nexercise under similar circumstances in like positions. In discharging\ntheir duties, trustees and officers, when acting in good faith, may rely\n(a) upon financial statements of the savings bank represented to them to\nbe correct by the president or the officer of the savings bank having\ncharge of the books of account, or stated in a written report by an\nindependent public or certified public accountant or firm of such\naccountants fairly to reflect the financial condition of such savings\nbank and (b) upon reports required to be submitted to them by any\nprovision of this chapter or prepared in the ordinary course of business\nby an officer or committee charged with the responsibility therefor.\nNothing in this section shall be deemed to require the trustees to\nperform functions vested in any committee, officer or other person\npursuant to the provisions of any other section of this chapter.\n 2. An action may be brought against one or more trustees or officers\nof a savings bank to procure a judgment for the following relief:\n (a) To compel the defendant to account for his official conduct in the\nfollowing cases:\n (1) The neglect of, or failure to perform, or other violation of his\nduties in the management and disposition of the savings bank's assets\ncommitted to his charge.\n (2) The acquisition by himself, transfer to others, loss or waste of\nthe savings bank's assets due to any neglect of or failure to perform,\nor other violation of his duties.\n (b) To set aside a conveyance, assignment or transfer of the savings\nbank's assets by one or more trustees or officers, contrary to a\nprovision of law, where the transferee knew the purpose of the transfer.\n (c) To enjoin such a conveyance, assignment or transfer of the savings\nbank's assets by one or more of the trustees or officers where there is\ngood reason to apprehend that it will be made.\n 3. Subject to section six hundred thirty-one of this chapter, an\naction may be brought for the relief provided in this section by a\nsavings bank or an officer, trustee or judgment creditor thereof.\n 4. This section shall not affect any liability otherwise imposed by\nlaw upon any trustee or officer.\n