Mass. General Laws c.171, § 66

Restrictions on real estate mortgage loans; credit union membership

This is an unofficial version of a Massachusetts General Law. For more information on this topic, please see Law about credit and banking.

Updates

Amended by St.2020, c.338, § 58, effective April 12, 2021

Section 66

Prior to making mortgage loans on real estate pursuant to sections 65 to 65E, inclusive, a credit union shall require a person obligated from time to time to make payments under a mortgage, whether as the original borrower or as a subsequent owner of a mortgaged property, to be or become a member of the credit union.

Last updated:	January 12, 2021