§ 18 — Consideration for issuance of stock

Massachusetts § 18

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XXII: CORPORATIONS
• Ch. 156B: CERTAIN BUSINESS CORPORATIONS

Text

Section 18. Capital stock may be issued for cash, tangible or intangible property, services, or for a debt, note or expenses. Stock having par value shall not be issued for cash, property, services or expenses worth less than the par value. For the purpose of the second sentence, a debt or note of the purchaser secured or unsecured shall not be considered property.