Massachusetts § 15E Investment in bonds, notes or other interest-bearing obligations of railroad corporations

Massachusetts Statutes

§ 15E — Investment in bonds, notes or other interest-bearing obligations of railroad corporations

Massachusetts § 15E

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 167SUPERVISION OF BANKS

This text of Massachusetts § 15E (Investment in bonds, notes or other interest-bearing obligations of railroad corporations) 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. 167, § 15E (2026).

Text

Section 15E.

(a)An entity that may invest pursuant to section 15A or the legal list may invest in bonds, notes or other interest-bearing obligations of railroad corporations subject to the conditions, limitations and requirements of this section.

(b)With respect to bonds, the obligations shall be those of a railroad incorporated in the United States or any state doing business principally within the United States and shall contain an unconditional promise to pay the interest on the bonds regularly and to pay the principal at a specified date. This promise may be modified, if at all, only by a vote of holders of at least 75 per cent in amount of the bonds.Not more than 20 per cent of the assets of the entity shall be invested in the railroad obligations.

(c)Investments in railroad equipme

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Section 15E. (a) An entity that may invest pursuant to section 15A or the legal list may invest in bonds, notes or other interest-bearing obligations of railroad corporations subject to the conditions, limitations and requirements of this section.(b) With respect to bonds, the obligations shall be those of a railroad incorporated in the United States or any state doing business principally within the United States and shall contain an unconditional promise to pay the interest on the bonds regularly and to pay the principal at a specified date. This promise may be modified, if at all, only by a vote of holders of at least 75 per cent in amount of the bonds.Not more than 20 per cent of the assets of the entity shall be invested in the railroad obligations.(c) Investments in railroad equipment obligations shall be those of, or guaranteed by, a railroad incorporated in the United States or any state and which is doing business principally within the United States.