There is a newer version
of
this Section
2019 Massachusetts General Laws
Part I - Administration of the Government
Title XXII - Corporations
Chapter 160 - Railroads
Section 40 - Collection of Assessment
Universal Citation: MA Gen L ch 160 § 40 (2019)
Section 40. If a subscriber neglects to pay his assessment for thirty days as provided in the preceding section, the directors may elect to proceed at law against said delinquent subscriber to recover all amounts due and payable by him with interest. If a judgment rendered in an action against a subscriber remains unsatisfied for thirty days, all amounts previously paid by him shall be forfeited to the company and the directors may offer such shares for sale as provided in said section.
Disclaimer: These codes may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
