Massachusetts § 13 Election of officers; term; qualifications; treasurer's bond; appointment of other officers

Massachusetts Statutes

§ 13 — Election of officers; term; qualifications; treasurer's bond; appointment of other officers

Massachusetts § 13

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 161STREET RAILWAYS

This text of Massachusetts § 13 (Election of officers; term; qualifications; treasurer's bond; appointment of other officers) 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, § 13 (2026).

Text

Section 13. The directors shall be elected annually by the stockholders by ballot, and the president shall be elected annually by and from the board of directors, and the treasurer and the clerk annually by said board. Every director, unless the by-laws otherwise provide, shall be a stockholder. The treasurer may be required to give a bond for the faithful performance of his duty in such sum and with such sureties as the by-laws may prescribe. The clerk, who shall be a resident of the commonwealth, shall be sworn, and shall record all votes of the company in a book kept therefor. The officers of a company shall hold officer for one year and until their successors are qualified. All other agents and officers shall be chosen or appointed, and all vacancies filled, in the manner prescribed by

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Section 13. The directors shall be elected annually by the stockholders by ballot, and the president shall be elected annually by and from the board of directors, and the treasurer and the clerk annually by said board. Every director, unless the by-laws otherwise provide, shall be a stockholder. The treasurer may be required to give a bond for the faithful performance of his duty in such sum and with such sureties as the by-laws may prescribe. The clerk, who shall be a resident of the commonwealth, shall be sworn, and shall record all votes of the company in a book kept therefor. The officers of a company shall hold officer for one year and until their successors are qualified. All other agents and officers shall be chosen or appointed, and all vacancies filled, in the manner prescribed by the by-laws, or, in default of such by-law, by the board of directors. Any requirement in the general laws of action to be taken or instruments to be signed by the president, directors, or a majority of the directors, of a company, relative to grants, extensions, alterations, and revocations of location, abolition of grade crossings and rights in state highways, shall be sufficiently and legally complied with if such action is taken by a vote, or if such instrument is executed in accordance with, and by the persons designated in, a vote of the directors of such company, at a meeting duly and properly held, at which a quorum of the board is present.