Chap. 0592 An Act relative to the annual reports of the commissioner of banks to the general court.

Be it enacted, etc., as follows:

Section 1. Chapter 167 of the General Laws is hereby amended by striking out section 9, as most recently amended by section 11 of chapter 292 of the acts of 1945, and inserting ! in place thereof the following: - Section 9. Annually, on or before the third Wednesday in March, the commissioner shall communicate to the general court an abstract of his report and such suggestions as he considers expedient relative to the general conduct and condition of banks under his supervision. Thereafter, and on or before the first day of April in each year, he shall make an annual report to the general court containing a statement of the condition, as of the last day of December next preceding, of each trust company, corporation subject to chapter one hundred and seventy-two A and private or foreign bank under his supervision, including any such banks as are in the hands of the commissioner, together with such other information relative to the affairs of said banks and of persons subject to chapters one hundred and sixty-nine, one hundred and seventy-three and one hundred and seventy-four as, in his opinion, the public interest may require. Annually, on or before the first day of August, he shall make a similar report containing a statement of the condition, as of the regular meeting day for the receipt of moneys in the preceding April of each co-operative bank and savings and loan association, and on or before the first day of October a similar report upon the condition, as of the last day of June next preceding, of each credit union, and on or before the first day of February a statement of the condition, as of the last business day of October next preceding of each savings bank and institution for savings under his supervision, with such other information relative to the affairs of such banks, associations and credit unions as he may deem to be in the public interest.

Section 2. Section 37 of said chapter 167, as appearing in the Tercentenary Edition, is hereby amended by striking-out, in fine 9, the word "October" and inserting in place thereof the word: - December, - so that the third sentence

will read as follows: - Any foreign banking association or corporation transacting business in this commonwealth shall be subject to the supervision of the commissioner, and shall annually, within thirty days after the last business day of December, and at other times during each year on any past day to be specified by the commissioner, make to him in such form as may be prescribed by him a return, signed and sworn to by the treasurer, or the corresponding officer, of the corporation, showing accurately the condition thereof at the close of business on said day.

Section 3. Section 6 of chapter 169 of the General Laws, as most recently amended by section 3 of chapter 64 of the acts of 1949, is hereby further amended by striking out, in line 7 and in line 11, the word "October", and inserting in place thereof, in each instance, the word: - December, - so as to read as follows: - Section 6. Any person transacting the business of receiving deposits of money, for the purpose of transmitting the same or equivalents thereof to foreign countries, as described in section one shall be subject to the supervision of the commissioner, and shall annually, within thirty days after the last business day in December, and at such other times as he may specify, make to him in such form as he may prescribe a return signed and sworn to by such officers or persons as he may designate, showing accurately the condition thereof at the close of business on said last business day of December or such other day as he may specify.

Section 4. Section 49 of chapter 170 of the General Laws, as appearing in chapter 144 of the acts of 1933, is hereby amended by striking out, in line 3, the word "October" and inserting in place thereof the word: - April, - so that the first sentence will read as follows: - Every such corporation shall annually, within thirty days after its regular meeting day for the receipt of moneys in April, make to the commissioner, in such form as he prescribes, a report, signed and sworn to by the treasurer of the corporation, showing accurately the condition thereof at close of business on that day.

Section 5. Section 27 of chapter 171 of the General Laws, as appearing in the Tercentenary Edition, is hereby amended by striking out, in line 2, the word " December " and inserting in place thereof the word: - June, - so that the first sentence will read as follows: - Within twenty days after the last business day of June in each year, every credit union shall make to the commissioner a report in such form as he may prescribe, signed by the president, treasurer and a majority of the auditing committee, who shall make oath that the report is correct according to their best knowledge and belief.

Section 6. Section 15 of chapter 173 of the Genera] Laws, as appearing in the Tercentenaiy Edition, is hereby amended by striking out, in fine 2, the word "October" and inserting in place thereof the word:-December, - so as

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to read as follows: - Section 15. Such corporation shall annually, within ten days after the last business day of December, make a return to said commissioner which shall be in the form of a trial balance of its books, and shall specify the different kinds of its liabilities and assets, stating the amount of each kind in accordance with a blank form to be furnished by him; and such returns shall be published in a newspaper of the town where such corporation is located, at the expense of such corporation, at such times and in such manner as may be directed by him.

Section 7. Said chapter 173 is hereby further amended by striking out section 16, as so appearing, and inserting in place thereof the following section:-Section 16. The commissioner shall include in his annual report such facts and statements relative to such corporations as the public interest requires. Approved July 22, 1949.