Massachusetts § 40 Collection of assessment

Massachusetts Statutes

§ 40 — Collection of assessment

Massachusetts § 40

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 160RAILROADS

This text of Massachusetts § 40 (Collection of assessment) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mass. Gen. Laws ch. 160, § 40 (2026).

Text

Section 40. If a subscriber neglects to pay his assessment for thirty days as provided in the preceding section, the directors may elect to proceed at law against said delinquent subscriber to recover all amounts due and payable by him with interest. If a judgment rendered in an action against a subscriber remains unsatisfied for thirty days, all amounts previously paid by him shall be forfeited to the company and the directors may offer such shares for sale as provided in said section.

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Section 40. If a subscriber neglects to pay his assessment for thirty days as provided in the preceding section, the directors may elect to proceed at law against said delinquent subscriber to recover all amounts due and payable by him with interest. If a judgment rendered in an action against a subscriber remains unsatisfied for thirty days, all amounts previously paid by him shall be forfeited to the company and the directors may offer such shares for sale as provided in said section.

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Massachusetts § 40, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/160/40.