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Session Laws

1984

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CHAPTER 230 AN ACT PROHIBITING BANKS FROM IMPOSING FEES AGAINST THE SAVINGS ACCOUNTS OF PERSONS OVER SIXTY-FIVE OR UNDER EIGHTEEN YEARS OF AGE.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Paragraph 1 of section 2 of chapter 167D of the General Laws, as appearing in section 2 of chapter 590 of the acts of 1983, is hereby amended by inserting after the word "bank", in line 5, the words:- ; provided, however, that no bank shall impose any fee, charge or other assessment against the savings account or checking account of any persons sixty-five years of age or older or eighteen years of age or younger; and provided, further, that a reasonable charge, as determined by the commissioner, may be assessed against any such account of any persons sixty-five years of age or older or eighteen years of age or younger when payment has been refused because of insufficient funds on any check drawn on such account.

Approved July 13, 1984.