Massachusetts § 56 Necessity of payment of par for shares; limit upon capital stock

Massachusetts Statutes

§ 56 — Necessity of payment of par for shares; limit upon capital stock

Massachusetts § 56

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 160RAILROADS

This text of Massachusetts § 56 (Necessity of payment of par for shares; limit upon capital stock) 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, § 56 (2026).

Text

Section 56. A railroad corporation shall not declare any stock or scrip dividend or divide the proceeds of the sale of stock or scrip among its stockholders; nor shall any such corporation issue any share of stock to any person unless the par value of the shares so issued is first paid in cash to its treasurer; nor shall it without authority of the general court increase its capital stock beyond the maximum amount fixed by its act of incorporation, or fixed under sections forty-one, forty-seven and forty-eight.

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Section 56. A railroad corporation shall not declare any stock or scrip dividend or divide the proceeds of the sale of stock or scrip among its stockholders; nor shall any such corporation issue any share of stock to any person unless the par value of the shares so issued is first paid in cash to its treasurer; nor shall it without authority of the general court increase its capital stock beyond the maximum amount fixed by its act of incorporation, or fixed under sections forty-one, forty-seven and forty-eight.

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Bluebook (online)

Massachusetts § 56, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/160/56.