Massachusetts § 106 Duties of receiver

Massachusetts Statutes

§ 106 — Duties of receiver

Massachusetts § 106

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 156BCERTAIN BUSINESS CORPORATIONS

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Bluebook

Mass. Gen. Laws ch. 156B, § 106 (2026).

Text

Section 106. The receivers shall pay all debts due from the corporation if the funds in their hands are sufficient therefor; and if they are not, they shall distribute them ratably among the creditors who approve their debts in the manner directed by any decree of the court for that purpose. If there is a balance remaining after the payment of the debts, the receivers shall distribute and pay it to those who are justly entitled thereto as having been stockholders of the corporation, or their legal representatives.

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Section 106. The receivers shall pay all debts due from the corporation if the funds in their hands are sufficient therefor; and if they are not, they shall distribute them ratably among the creditors who approve their debts in the manner directed by any decree of the court for that purpose. If there is a balance remaining after the payment of the debts, the receivers shall distribute and pay it to those who are justly entitled thereto as having been stockholders of the corporation, or their legal representatives.