Massachusetts S766 allows municipalities to deposit funds into credit unions.
Massachusetts S766 amends the General Laws to allow municipalities to deposit funds into credit unions. The bill modifies existing statutes to include credit unions and federal credit unions as eligible institutions for municipal deposits. It sets a limit of 25% of the credit union's assets for such deposits. This change aims to provide municipalities with more options for managing their public funds.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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