# Mass. Gen. Laws ch. 26, sec. 2: Commissioner of banks

> Massachusetts · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S2

## Section

- **Citation:** Mass. Gen. Laws ch. 26, sec. 2
- **Heading:** Commissioner of banks
- **Jurisdiction:** Massachusetts
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MA Code / Part I / Title II / Chapter 26 / Section 2

## Text

Section 2. The commissioner shall be appointed by the governor to serve for a term coterminous with that of the governor. The position of commissioner shall be classified in accordance with section forty-five of chapter thirty and the salaries shall be determined in accordance with section forty-six C of said chapter thirty and he shall devote his full time during business hours to the duties of his office. He shall not be an officer of or directly or indirectly interested in any national bank or in any bank, trust company, corporation, business or occupation that requires his official supervision, and he shall not engage in any other business. He shall give bond with sureties in the sum of twenty thousand dollars, to be approved by the state treasurer, for the faithful performance of his duties.

Section 2. The commissioner shall be appointed by the governor to serve for a term coterminous with that of the governor. The position of commissioner shall be classified in accordance with section forty-five of chapter thirty and the salaries shall be determined in accordance with section forty-six C of said chapter thirty and he shall devote his full time during business hours to the duties of his office. He shall not be an officer of or directly or indirectly interested in any national bank or in any bank, trust company, corporation, business or occupation that requires his official supervision, and he shall not engage in any other business. He shall give bond with sureties in the sum of twenty thousand dollars, to be approved by the state treasurer, for the faithful performance of his duties.

## Nearby sections

- [Mass. Gen. Laws ch. 26, sec. 1 Department of banking and insurance; divisions; commissioners](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S1.md)
- [Mass. Gen. Laws ch. 26, sec. 2 Commissioner of banks](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S2.md)
- [Mass. Gen. Laws ch. 26, sec. 3 Deputy commissioner of banks; deputy commissioner and general counsel; assistants; expenses; bonds](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S3.md)
- [Mass. Gen. Laws ch. 26, sec. 3A Consumer assistance unit](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S3A.md)
- [Mass. Gen. Laws ch. 26, sec. 4 Supervisor of loan agencies](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S4.md)
- [Mass. Gen. Laws ch. 26, sec. 5 Board of bank incorporation](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S5.md)
- [Mass. Gen. Laws ch. 26, sec. 5A Small loans regulatory board](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S5A.md)
- [Mass. Gen. Laws ch. 26, sec. 6 Commissioner of insurance](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S6.md)
- [Mass. Gen. Laws ch. 26, sec. 7 Deputies and assistants in division of insurance; appointments; duties; hearings; appeals to commissioner](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S7.md)
- [Mass. Gen. Laws ch. 26, sec. 7A Health care access bureau; duties; employees; assessment against carriers](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S7A.md)
- [Mass. Gen. Laws ch. 26, sec. 7B Interdepartmental service agreement with department of revenue; limitations on transfer of personal information; impact of violations upon licensing of entities to provide health coverage](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S7B.md)
- [Mass. Gen. Laws ch. 26, sec. 8A Board of appeal on motor vehicle liability policies and bonds](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S8A.md)
- [Mass. Gen. Laws ch. 26, sec. 8B Fraudulent claims board; establishment; membership; investigative powers; accident reports; chief of accident claims investigations; apportionment of costs; penalty](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S8B.md)
- [Mass. Gen. Laws ch. 26, sec. 8C Assessments against licensed insurers](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S8C.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S2. Check the current official text before relying on it. Not legal advice.