Section 1A. Any national banking association or foreign corporation either alone or in conjunction with one or more other persons acting with it in a fiduciary capacity having qualified as fiduciary in this state pursuant to the provisions of section forty-three of chapter one hundred and sixty-seven, may invest any funds held by it as such fiduciary in any common trust fund which it maintains according to the laws of the state where its principal place of business is located, provided the instrument, judgment, decree or order creating such fiduciary relationship, does not specifically or otherwise prohibit such investment.

Terms Used In Massachusetts General Laws ch. 203A sec. 1A

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiduciary: A trustee, executor, or administrator.
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