Massachusetts § 128 Return on stock investment; state directors of railway company; petition for reversal of orders of department

Massachusetts Statutes

§ 128 — Return on stock investment; state directors of railway company; petition for reversal of orders of department

Massachusetts § 128

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 161STREET RAILWAYS

This text of Massachusetts § 128 (Return on stock investment; state directors of railway company; petition for reversal of orders of department) 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. 161, § 128 (2026).

Text

Section 128. If a majority of the state directors of a company believe that a particular order or decision of the department would impair the ability of the company to pay the six per cent interest return on the stock investment as provided in section one hundred and sixteen, they shall so advise the department in writing, and if, after reconsideration, the department insists upon the order or decision the company may apply by petition to the supreme judicial court for a reversal or modification thereof. The court may appoint three commissioners to determine the facts and questions at issue, and their report, if confirmed by the court, shall be final.

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Section 128. If a majority of the state directors of a company believe that a particular order or decision of the department would impair the ability of the company to pay the six per cent interest return on the stock investment as provided in section one hundred and sixteen, they shall so advise the department in writing, and if, after reconsideration, the department insists upon the order or decision the company may apply by petition to the supreme judicial court for a reversal or modification thereof. The court may appoint three commissioners to determine the facts and questions at issue, and their report, if confirmed by the court, shall be final.