Section 4. Money, property or securities received, invested or loaned by the trust department of any such bank, shall be a special deposit in such corporation, and the accounts thereof shall be kept separate. Such funds and the investment or loans thereof shall be specially appropriated to the security and payment of such deposits, shall not be mingled with the investments of the capital stock or other money or property belonging to such bank, or be liable for the debts or obligations thereof.

Terms Used In Massachusetts General Laws ch. 167G sec. 4

  • 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.
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