Section 7. A bank, with the approval of and under conditions imposed by the commissioner, may establish a branch de novo in a state of the United States other than the commonwealth or in a foreign country in accordance with the laws of the state or foreign country, and may exercise the powers at the branch de novo as are permitted to banks existing by the authority of the jurisdiction in which the branch is located, unless the commissioner determines that the exercise of the powers is unsafe or unsound.
Structure Massachusetts General Laws
Part I - Administration of the Government
Section 2 - Main Office; Change of Location
Section 3 - Branch Offices or Depots
Section 4 - Mobile Branch Banking
Section 5 - Investigation Fees; Classifications and Differentiations of Banks
Section 7 - Branch De Novo in Foreign State or Country
Section 8 - Cooperative Agreements With Other Jurisdictions for Regulatory Supervision of Branches
Section 9 - Bank as Agent for Another Banking Institution
Section 15 - Foreign Banks; Certificate to Transact Business; Housing Partnership Fund