A bank's corporate governance procedures shall comply with banking laws and regulations and safe and sound banking practices. To the extent not inconsistent with the above, a bank may elect to follow the corporate governance procedures of chapter 156D or the law of the state in which its holding company is organized. A bank shall designate in its by-laws the body of law selected for its corporate governance procedures.
Mass. Gen. Laws ch. 167J, § 21
Election of alternative corporate governance procedures; designation in by-laws of body of law selected for corporate governance procedure
Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.