Commonwealth of Massachusetts.

In the Year One Thousand Eight Hundred and Seventy-Eight.

AN ACT

In regard to Collateral Securities of Savings Banks and Trust Companies.

Be it enacted by the Senate and House of Representative: in General Court assembled, and by the authority of the same, as follows:

1 SECT. 1. None of the provisions of chapter two 2 hundred and three of the acts and resolves o 3 eighteen hundred and seventy-six shall be so held 4 and construed as to invalidate or in any manner im 5 pair the title of a savings bank or trust company to 6 any securities that have been or hereafter may be 7 pledged to it as collateral for any loan made by, o 8 indebtedness created to, such institution; and said 9 collateral securities shall be held for the purposes for 10 which they were pledged.

1 SECT. 2. This act shall take effect upon its pas

2 sage.