Section 1A. The commissioner shall promulgate rules and regulations establishing minimum standards relative to the security and protection of credit unions under the commissioner's supervision, both for the benefit of employees as well as the general public, including the requirement for the installation, maintenance and operation of security devices and procedures and to assist in the identification and apprehension of criminals.
Said rules and regulations shall fix the time limit within which each such credit union shall comply with the standards so established and may require the submission, in writing, of periodic reports and other information necessary to ensure compliance with such rules and regulations. A credit union which violates any rule or regulation promulgated pursuant to this section shall forfeit to the commonwealth $100 for each day during which such violation continues, to be recovered by an information in equity in the name of the attorney general at the request of the commissioner, commenced in the supreme judicial court for Suffolk county.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
