Section 16. The directors may fix in advance a time, which, unless a shorter period is provided in the by-laws, shall be not more than 60 days before the date of any meeting of the stockholders or the date for the payment of any dividend or the making of any distribution to stockholders or the last day on which the consent or dissent of stockholders may be effectively expressed for any purpose, as the record date for determining the stockholders having the right to notice of and to vote at such meeting and any adjournment thereof or the right to receive such dividend or distribution or the right to give such consent or dissent, and in such case only stockholders of record on such record date shall have such right, notwithstanding any transfer of stock on the books of the bank after the record date; or without fixing such record date the directors may for any of such purposes close the transfer books for all or any part of such period.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 167j - Corporate Governance Provisions and Requirements
Section 2 - Bond of Officers and Employees of Bank
Section 3 - Duties of Treasurer of Bank Under Other Provisions of Law
Section 4 - Misconduct of Officer, Director, Agent or Employee of Bank
Section 5 - Fee, Commission, Gift or Other Consideration in Connection With Business of Corporation
Section 6 - Penalty for Violations of Secs. 5 or 10
Section 7 - Payment of Interest on Deposit Accounts
Section 9 - Annual Statement of Condition of Bank
Section 10 - Loans or Extensions of Credit to Officer, Director or Trustee of Bank
Section 12 - Audit of Balance Sheet and Other Financial Statements of Mutual Bank
Section 13 - Maintenance of Capital and Surplus or Surplus Account Deemed Adequately Capitalized
Section 14 - Capital Stock of Stock Corporation
Section 16 - Determination of Record Date of Right to Notice of and to Vote at Stockholder's Meeting
Section 17 - Declaration of Dividends