Section 20. At least once during each 12 month period, the trustees shall elect an auditing committee of not less than 3 trustees who shall not be operating officers or members of the board of investment. The members of such committee shall take an oath of office in the manner and within the period prescribed by section 18 and a record thereof shall be made and preserved as provided in said section. The trustees may elect or authorize to be appointed such other committees as the by-laws may provide or as the trustees from time to time may determine. The trustees shall authorize the compensation, if any, to be paid to the members of the committees.
Structure Massachusetts General Laws
Part I - Administration of the Government
Section 3 - Application of This Chapter and Chapters 167c to 167g, 167i and 167j
Section 6 - Notice of Intention to Form Saving Bank; Application for Certificate
Section 7 - First Meeting of Incorporators
Section 8 - Articles of Organization; Certificate of Incorporation
Section 10 - Applicability of Sections to Mutual Banks and to Stock
Section 12 - Corporators of Mutual Bank
Section 13 - Annual and Special Meetings of Corporators of Mutual Bank
Section 14 - Board of Trustees of Mutual Bank
Section 15 - Regular and Special Meetings of Board of Trustees of Mutual Bank
Section 16 - Board of Investment of Mutual Bank
Section 17 - Officers of Mutual Bank
Section 18 - Election of Officers, Members of Board of Trustees and Members of Board of Investment
Section 20 - Auditing Committee; Other Committees
Section 21a - Action Without Meeting
Section 23 - Stockholder Voting; Votes by Proxy
Section 24 - Board of Directors of Stock Bank; Executive Committee
Section 25 - Election of Officers
Section 26 - Meetings of Board of Directors
Section 27 - Savings Banks Employees Retirement Association
Section 28 - By-Laws of Savings Banks Employees Retirement Association
Section 30 - Savings Banks Employees Benefit Association
Section 31 - By-Laws of Savings Banks Employees Benefit Association