Massachusetts Statutes
§ 69 — Impaired capital; assessment; effect of non-compliance with commissioner; order
Massachusetts § 69
JurisdictionMassachusetts
Part IADMINISTRATION OF THE GOVERNMENT
Title XXIICORPORATIONS
Ch. 175INSURANCE
This text of Massachusetts § 69 (Impaired capital; assessment; effect of non-compliance with commissioner; order) 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. 175, § 69 (2026).
Text
Section 69. If the net assets of the company do not amount to more than three fourths of its capital, it may make good its capital by assessment of its stock.Shares on which such assessment is not paid within sixty days after demand shall be forfeitable, and may be cancelled by a vote of the directors, and new shares issued to make up the deficiency.If such company shall not, within three months after notice from the commissioner, make good its capital as aforesaid, or reduce the same as provided in section seventy-one, its authority to transact new business shall cease.
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Bluebook (online)
Massachusetts § 69, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/175/69.