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2019 Massachusetts General Laws
Part I - Administration of the Government
Title XXII - Corporations
Chapter 156b - Certain Business Corporations
Section 63 - False Statement or Report; Liability of Officers
Universal Citation: MA Gen L ch 156b § 63 (2019)
Section 63. The directors and officers of a corporation who sign any statement or report required by this chapter which is false in any material representation shall be jointly and severally liable to any creditor of the corporation who has relied upon such false representation to the extent of the actual damage sustained by him by reason of such reliance; provided, that such directors and officers shall not be liable to any creditor on account of such false representation for debts contracted or contracts entered into after the filing of a statement or report in which such false representation is corrected.
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