Mass. Gen. Laws ch. 167A § 3
If the commissioner determines that the reciprocity, age of institution and deposit cap requirements under section 2 have been met, then the other provisions of section 2 shall not apply to the acquisition by a bank holding company or a company or a banking institution that would become a bank holding company; provided, however, that a banking institution or other bank holding company shall be merged, consolidated, its assets purchased or established on an interim basis simultaneously with the acquisition of the shares of the banking institution or other bank holding company; provided further, that the company or bank holding company is not operated by the acquiring bank holding company, company or banking institution as a separate entity other than as the survivor of the merger, consolidation or asset purchase; and provided further, that the transaction is approved by the commissioner.
Section 2 shall not apply to the acquisition by a bank holding company, or a company or a banking institution which would become a bank holding company if: a banking institution or other bank holding company is merged, consolidated, its assets purchased or established on an interim basis simultaneously with the acquisition of the shares of the banking institution or other bank holding company; and the company or bank holding company is not operated by the acquiring bank holding company, company or banking institution, as a separate entity other than as the survivor of the merger, consolidation or asset purchase; and said transaction requires the approval of the commissioner pursuant to the General Laws. The provisions of section 4 relative to the Massachusetts Housing Partnership Fund shall apply to any transaction which but for the exemption provided for in this paragraph would have been subject to such provisions. The commissioner shall not approve any transaction until the commissioner has received notice from the Massachusetts Housing Partnership Fund that satisfactory arrangements have been made pursuant to said section 4.
Mass. Gen. Laws ch. 167A, § 3