Massachusetts § 24 Liability prior to payment for capital stock

Massachusetts Statutes

§ 24 — Liability prior to payment for capital stock

Massachusetts § 24

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 161STREET RAILWAYS

This text of Massachusetts § 24 (Liability prior to payment for 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. 161, § 24 (2026).

Text

Section 24. The directors of a company shall be jointly and severally liable, to the extent of its capital stock, for all its debts and contracts, until the whole amount of its capital stock as originally fixed by its agreement of association, or if a chartered company, by its directors, and authorized by the department, shall have been paid in, and until a certificate stating the amount thereof so fixed and paid in shall have been signed and sworn to by its president, treasurer, clerk and a majority of its directors, and filed in the office of the state secretary.

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Section 24. The directors of a company shall be jointly and severally liable, to the extent of its capital stock, for all its debts and contracts, until the whole amount of its capital stock as originally fixed by its agreement of association, or if a chartered company, by its directors, and authorized by the department, shall have been paid in, and until a certificate stating the amount thereof so fixed and paid in shall have been signed and sworn to by its president, treasurer, clerk and a majority of its directors, and filed in the office of the state secretary.

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Bluebook (online)

Massachusetts § 24, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/161/24.