# Mass. Gen. Laws ch. 167D, sec. 2: Powers

> Massachusetts · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S2

## Section

- **Citation:** Mass. Gen. Laws ch. 167D, sec. 2
- **Heading:** Powers
- **Jurisdiction:** Massachusetts
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MA Code / Part I / Title XXII / Chapter 167D / Section 2

## Text

Section 2. Every bank in its banking department shall, subject to any limitations imposed by this chapter, have the following powers and whatever further incidental powers may fairly be implied from those expressly conferred and are reasonably necessary to enable it to exercise fully those powers according to common banking customs and usages: (A) to receive deposits as authorized by this chapter; and (B) to receive on deposit, storage or otherwise, money, government securities, stocks, bonds, coin, jewelry, plate, valuable papers and documents, evidences of debt and other property of any kind, upon such terms and conditions as may be agreed upon between the depositor and the bank and to collect and disburse, at the request of the depositor, the interest or income or principal of said property upon terms to be prescribed by such bank.

Section 2. Every bank in its banking department shall, subject to any limitations imposed by this chapter, have the following powers and whatever further incidental powers may fairly be implied from those expressly conferred and are reasonably necessary to enable it to exercise fully those powers according to common banking customs and usages:

(A) to receive deposits as authorized by this chapter; and

(B) to receive on deposit, storage or otherwise, money, government securities, stocks, bonds, coin, jewelry, plate, valuable papers and documents, evidences of debt and other property of any kind, upon such terms and conditions as may be agreed upon between the depositor and the bank and to collect and disburse, at the request of the depositor, the interest or income or principal of said property upon terms to be prescribed by such bank.

## Nearby sections

- [Mass. Gen. Laws ch. 167D, sec. 1 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S1.md)
- [Mass. Gen. Laws ch. 167D, sec. 2 Powers](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S2.md)
- [Mass. Gen. Laws ch. 167D, sec. 3 Types of deposits which may be received by bank](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S3.md)
- [Mass. Gen. Laws ch. 167D, sec. 3A Savings promotion raffles](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S3A.md)
- [Mass. Gen. Laws ch. 167D, sec. 4 Limited access deposit accounts](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S4.md)
- [Mass. Gen. Laws ch. 167D, sec. 5 Demand deposit account and savings account for persons 18 years of age or under or 65 years of age or older](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S5.md)
- [Mass. Gen. Laws ch. 167D, sec. 6 Fee, charges or assessments; refusal of payment of deposited instruments; costs for processing deposited instrument](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S6.md)
- [Mass. Gen. Laws ch. 167D, sec. 7 Provision of cancelled instruments or copies thereof](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S7.md)
- [Mass. Gen. Laws ch. 167D, sec. 8 Collateral or security for deposit of money received](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S8.md)
- [Mass. Gen. Laws ch. 167D, sec. 9 Deposits from residential dwelling unit lessor acting as trustee for security deposits](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S9.md)
- [Mass. Gen. Laws ch. 167D, sec. 10 Deposits from condominium manager or managing agent acting as trustee for condominium funds](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S10.md)
- [Mass. Gen. Laws ch. 167D, sec. 11 Lost, stolen or destroyed passbooks](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S11.md)
- [Mass. Gen. Laws ch. 167D, sec. 12 Deposits of decedents; payment](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S12.md)
- [Mass. Gen. Laws ch. 167D, sec. 13 Unusual demand by depositors for withdrawals; notice of intention to withdraw deposit or to apply for loan secured by deposit](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S13.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S2. Check the current official text before relying on it. Not legal advice.