Chap. 221. An Act relative to participating loans bt cooperative BANKS. Be it enacted, etc., as follows: Section 23 of chapter 170 of the General Laws is hereby amended by striking out subsection 4, as amended by chapter 126 of the acts of 1963, and inserting in place thereof the following subsection: — 4. Participation Loans. — Any such corporation may make or acquire mortgage loans in participation with other banking institutions or associations. The participating corporations shall enter into a written agreement for themselves, their successors and assigns, which shall include provisions for the custody of the note and mortgage and for the servicing and foreclosure thereof. The amount which, notwithstanding the provisions of section twenty-four, any such corporation may invest in a participation loan shall not exceed one per cent of its deposits or thirty thousand dollars, whichever is greater, and the aggregate balance of principal of all such participation loans, outstanding at any one time by such corporation, shall not exceed five per cent of its total deposits. Approved March 25, 1964.