Chap. 152. AN ACT REQUIRING SAVINGS BANKS TO PUBLISH AND POST CERTAIN BALANCE SHEETS ANNUALLY.
Be it enacted, etc., as follows:
Section 65 of chapter 168 of the General Laws, as most recently amended by section 1 of chapter 58 of the acts of 1960, is hereby further amended by adding the following paragraph: —
Every such corporation shall post in a prominent place and in a conspicuous manner in (the lobby of each of its banking offices, a balance sheet which presents fairly, in accordance with generally accepted accounting principles, including required footnote disclosures, its condition as of the last business day of its fiscal year, with comparative figures as of the end of the previous fiscal year. Said balance sheet shall be posted not later than fifteen days after the end of the corporation's fiscal year and shall remain posted until replaced by the following year's posting. Said balance sheet shall be printed at the expense of the corporation and copies shall be made available to its depositors upon request. Each such corporation which fails to post or print any such balance sheet in accordance with this section shall pay to the state treasurer ten dollars for each day that it fails to so post or print such balance sheet, unless excused by the commissioner for cause.
Approved April 25, 1974.