FIRST FIDUCIARY CORPORATION v. COMMISSIONER OF BANKS.

No. 96-P-386.

43 Mass. App. Ct. 457 (1997)

FIRST FIDUCIARY CORPORATION v. COMMISSIONER OF BANKS.

Court of Appeals of Massachusetts, Middlesex.

September 2, 1997.


Attorney(s) appearing for the Case

Leonard M. Davidson for the plaintiff.

Rebecca P. McIntyre, Assistant Attorney General, for the Commissioner of Banks.

Present: KASS, SMITH, & LAURENCE, JJ.


KASS, J.

By complaint for declaratory judgment, First Fiduciary Corporation (First Fiduciary) sought a determination that the office of the Commissioner of Banks (OCB) lacked the authority it had asserted to regulate a corporate fiduciary that neither took deposits nor lent money. A judge of the Superior Court, proceeding on cross motions for summary judgment, ruled that First Fiduciary's business was subject to regulation by OCB. We conclude that, because its activities...

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