Code of Massachusetts Regulations
209 CMR - DIVISION OF BANKS AND LOAN AGENCIES
Title 209 CMR 33.00 - Conversion By Co-operative Banks And Savings Banks From Mutual To Stock Form
Section 33.11 - Penalties for Violation of any Provision
Universal Citation: 209 MA Code of Regs 209.33
Current through Register 1531, September 27, 2024
The commissioner shall have the authority to issue, in the event of any violation of any of the provisions of 209 CMR 33.00, remedial measures, including:
(a) Limitation of the subscription rights of any person;
(b) Revocation of stock purchases by any person;
(c) Suspension or Cancellation of the conversion; and
(d) Civil penalties of not more than $500 for each day that a violation occurs; and
(e) Any other actions the commissioner may deem appropriate and necessary to assure fairness and equity.
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