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Can you summarize MGL Chapter 170?
CORPORATIONS > CO OPERATIVE BANKS
Short Summary
The provided legal document content covers various aspects of co-operative banks, employees benefit association, employees retirement association, meetings of the board and committees, security committee and audit committee, voting rights, formation and organization of cooperative banks, management of cooperative banks, by-laws of mutual banks, stock banks and mutual banks, treasurer’s duties, and more. These documents apply to co-operative banks, employees of participating organizations, members of the benefit association, trustees of the Co-operative Banks Employees Retirement Association, directors, officers, and shareholders of cooperative banks, security committee and audit committee members, members of the board of directors, incorporators, stockholders, and shareholders of cooperative banks. Certain exemptions apply to these documents, including certain laws related to insurance companies or other benefit associations, taxation, insolvency, attachment or execution of assets, assignment of rights in funds or pensions, and support orders. No specific penalties are mentioned in these documents.
Whom does it apply to?
Co-operative banks, employees of participating organizations, members of the benefit association, trustees of the Co-operative Banks Employees Retirement Association, directors, officers, and shareholders of cooperative banks, security committee and audit committee members, members of the board of directors, incorporators, stockholders, and shareholders of cooperative banks
What does it govern?
Co-operative Banks, Employees Benefit Association, Employees Retirement Association, Meetings of the Board and Committees, Security Committee and Audit Committee, Voting Rights, Formation and Organization of Cooperative Banks, Management of Cooperative Banks, By-laws of Mutual Banks, Stock Banks and Mutual Banks, Treasurer's Duties, Formation and Organization of Cooperative Banks, Voting Rights, Management of Co-operative Banks, Stock Banks and Mutual Banks, Formation and Organization of Cooperative Banks, Voting Rights, Management of Co-operative Banks, Stock Banks and Mutual Banks
What are exemptions?
Certain laws related to insurance companies or other benefit associations, laws related to taxation, laws related to insolvency, laws related to attachment or execution of assets to satisfy debts or liabilities, laws related to assignment of rights in funds or pensions, laws related to support orders
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Massachusetts