Mass. Gen. Laws ch. 161 § 23
Current through Chapter 244 of the 2024 Legislative Session
A company shall not begin to build its railway until it shall have filed in the office of the state secretary a certificate, signed and sworn to by its president, treasurer, clerk and a majority of its directors, stating that the amount of its capital stock has been unconditionally subscribed for by responsible parties, and that fifty per cent of the par value of each share thereof has been paid in cash.
Mass. Gen. Laws ch. 161, § 23