Massachusetts § 6.22 Liability of shareholders

Massachusetts Statutes

§ 6.22 — Liability of shareholders

Massachusetts § 6.22

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 156DBUSINESS CORPORATIONS

This text of Massachusetts § 6.22 (Liability of shareholders) 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. 156D, § 6.22 (2026).

Text

Section 6.22. LIABILITY OF SHAREHOLDERS(a) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued or specified in the subscription agreement.

(b)Unless otherwise provided in the articles of organization, a shareholder of a corporation shall not be personally liable for the acts or debts of the corporation except that he may become personally liable by reason of his own acts or conduct.

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Section 6.22. LIABILITY OF SHAREHOLDERS(a) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued or specified in the subscription agreement.(b) Unless otherwise provided in the articles of organization, a shareholder of a corporation shall not be personally liable for the acts or debts of the corporation except that he may become personally liable by reason of his own acts or conduct.