Massachusetts Statutes
§ 119 — Use of reserve fund
Massachusetts·Part I ADMINISTRATION OF THE GOVERNMENT·Title XXII CORPORATIONS·Ch. 161 STREET RAILWAYS
Section 119. Whenever the income of the company is insufficient to meet the cost of service as defined in section one hundred and sixteen, the reserve fund shall be used, so far as necessary, to make up the deficiency, but when the income exceeds the cost of the service, the excess shall be transferred to and become a part of the reserve fund.
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