# Mass. Gen. Laws ch. 167D, sec. 8: Collateral or security for deposit of money received

> Massachusetts · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C167D_S8

## Section

- **Citation:** Mass. Gen. Laws ch. 167D, sec. 8
- **Heading:** Collateral or security for deposit of money received
- **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 8

## Text

Section 8. No bank shall give collateral or other security for a deposit of money received in its banking department, except that such bank may make such a deposit of securities or satisfy any provision as may be required by the laws of the United States or the rules and regulations of any department, agency or instrumentality thereof as security for deposits of funds made by the United States or any department, agency or instrumentality thereof with such bank and may give such collateral or other security for deposits of public or other funds as may be required by any public authority making such deposits or controlling the terms upon which they may be made and except as provided in section 8 of chapter 167G.

Section 8. No bank shall give collateral or other security for a deposit of money received in its banking department, except that such bank may make such a deposit of securities or satisfy any provision as may be required by the laws of the United States or the rules and regulations of any department, agency or instrumentality thereof as security for deposits of funds made by the United States or any department, agency or instrumentality thereof with such bank and may give such collateral or other security for deposits of public or other funds as may be required by any public authority making such deposits or controlling the terms upon which they may be made and except as provided in section 8 of chapter 167G.

## 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_S8. Check the current official text before relying on it. Not legal advice.