# Mass. Gen. Laws ch. 171, sec. 32B: Demand deposit account and savings account; joint accounts; terms; fees; notice of availability > Massachusetts · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S32B ## Section - **Citation:** Mass. Gen. Laws ch. 171, sec. 32B - **Heading:** Demand deposit account and savings account; joint accounts; terms; fees; notice of availability - **Jurisdiction:** Massachusetts - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** MA Code / Part I / Title XXII / Chapter 171 / Section 32B ## Text Section 32B. A natural person not more than 18 years of age or not less than 65 years of age may choose 1 demand deposit account and 1 savings account upon which no service, maintenance or other similar charge shall be imposed; provided, however, that any such demand deposit account and any such savings account shall each include a joint account in which the spouse of the eligible depositor, if applicable and regardless of age, is the joint tenant therein or the joint tenant would otherwise be an eligible depositor and that has been established and used for personal, family or household purposes. Such account shall not be subject to: (i) a minimum balance requirement; (ii) a charge for a deposit or withdrawal; or (iii) a fee for the initial order or subsequent refills of the basic line of checks offered by the credit union, which shall include the name of the depositor. A savings account in trust for another person shall be covered by the notice, services, fee and charge provisions of this section only if the trustee is a person not more than 18 years of age or not less than 65 years of age. To obtain a demand deposit account and a savings account under this section, a consumer shall notify a credit union of the consumer's eligibility for such accounts and provide proof of age in a form acceptable to the credit union. A credit union may assess a fee against an account under this section for certain services in accordance with the credit union's published service charge schedule, which shall include stop payment orders, wire transfers, certified or bank checks, money orders, deposit items returned, transactions at electronic branches and through other electronic devices and a reasonable charge, as determined by the commissioner, against any such account when payment on a check or other transaction on the account has been refused because of insufficient funds or paid despite insufficient funds. A credit union shall post in each of its credit union offices a notice informing consumers of the availability of the credit union services under this section and shall disclose annually to all depositors, in a manner of its choosing, the provisions of this section. For the purposes of this section, the term ''check or other transaction'' shall include, but not be limited to: (i) a check, as defined in 12 U.S.C. 5002; (ii) an electronic fund transfer, as defined in section 1 of chapter 167B; or (iii) a transaction processed by an automated clearinghouse. Section 32B. A natural person not more than 18 years of age or not less than 65 years of age may choose 1 demand deposit account and 1 savings account upon which no service, maintenance or other similar charge shall be imposed; provided, however, that any such demand deposit account and any such savings account shall each include a joint account in which the spouse of the eligible depositor, if applicable and regardless of age, is the joint tenant therein or the joint tenant would otherwise be an eligible depositor and that has been established and used for personal, family or household purposes. Such account shall not be subject to: (i) a minimum balance requirement; (ii) a charge for a deposit or withdrawal; or (iii) a fee for the initial order or subsequent refills of the basic line of checks offered by the credit union, which shall include the name of the depositor. A savings account in trust for another person shall be covered by the notice, services, fee and charge provisions of this section only if the trustee is a person not more than 18 years of age or not less than 65 years of age. To obtain a demand deposit account and a savings account under this section, a consumer shall notify a credit union of the consumer's eligibility for such accounts and provide proof of age in a form acceptable to the credit union covered by the notice, services, fee and charge provisions of this section only if the trustee is a person not more than 18 years of age or not less than 65 years of age. To obtain a demand deposit account and a savings account under this section, a consumer shall notify a credit union of the consumer's eligibility for such accounts and provide proof of age in a form acceptable to the credit union. A credit union may assess a fee against an account under this section for certain services in accordance with the credit union's published service charge schedule, which shall include stop payment orders, wire transfers, certified or bank checks, money orders, deposit items returned, transactions at electronic branches and through other electronic devices and a reasonable charge, as determined by the commissioner, against any such account when payment on a check or other transaction on the account has been refused because of insufficient funds or paid despite insufficient funds. A credit union shall post in each of its credit union offices a notice informing consumers of the availability of the credit union services under this section and shall disclose annually to all depositors, in a manner of its choosing, the provisions of this section. For the purposes of this section, the term ''check or other transaction'' shall include, but not be limited to: (i) a check, as defined in 12 U.S.C. 5002; (ii) an electronic fund transfer, as defined in section 1 of chapter 167B; or (iii) a transaction processed by an automated clearinghouse. ## Nearby sections - [Mass. Gen. Laws ch. 171, sec. 1 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S1.md) - [Mass. Gen. Laws ch. 171, sec. 2 Incorporation; agreement of association](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S2.md) - [Mass. Gen. Laws ch. 171, sec. 3 Notice to commissioner; investigation fee](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S3.md) - [Mass. Gen. Laws ch. 171, sec. 4 First meeting of incorporators; notice](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S4.md) - [Mass. Gen. Laws ch. 171, sec. 5 Articles of organization; certificate of incorporation](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S5.md) - [Mass. Gen. Laws ch. 171, sec. 6 Transaction of business; authorization; approval of by-laws; failure to commence](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S6.md) - [Mass. Gen. Laws ch. 171, sec. 6A Powers and permissible activities; regulations](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S6A.md) - [Mass. Gen. Laws ch. 171, sec. 6B Savings promotion raffles](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S6B.md) - [Mass. Gen. Laws ch. 171, sec. 7 Use of words ''credit union'' restricted; penalties](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S7.md) - [Mass. Gen. Laws ch. 171, sec. 8 Location changes; branches and depots; consolidations or mergers; mobile branch banking](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8.md) - [Mass. Gen. Laws ch. 171, sec. 8A Purchase, establishment, installation, etc. of electronic branches; location; safeguards](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8A.md) - [Mass. Gen. Laws ch. 171, sec. 8B Educational credit union, student savings deposit and school branch office programs](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8B.md) - [Mass. Gen. Laws ch. 171, sec. 8C Application by foreign credit union or out-of-state federal credit union to establish new branch in the commonwealth](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8C.md) - [Mass. Gen. Laws ch. 171, sec. 8D Examination of affairs of foreign credit union or out-of-state federal credit union](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8D.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S32B. Check the current official text before relying on it. Not legal advice.