Mass. Gen. Laws ch. 140D § 23
Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session
No bank or credit union shall transfer any funds held in any account of the customer in said bank or credit union as a consequence of a default of a debt owed to such institution unless the customer has been provided a written notice, prior to the time the loan is made, which states the institution may transfer such funds to reduce or extinguish such a debt. The provisions of this section shall not apply to open-end-credit plans which are subject to section twenty-one.
Mass. Gen. Laws ch. 140D, § 23