Mass. Gen. Laws ch. 161 § 68

Current through Chapter 223 of the 2024 Legislative Session

Section 161:68 - Sale of portion of railway; payment of dividends from money received

A company shall not appropriate for the payment of dividends any money received from the sale of any portion of its railway, unless it first reduces its capital stock issued, by an amount which, at its par value, is equal to the amount which such portion of its railway cost said company.

Mass. Gen. Laws ch. 161, § 68