Section 44. If an increase in the total amount of the capital stock of any corporation shall have been authorized by vote of its stockholders in accordance with section forty-one, or if a change or exchange of stock shall have been authorized in accordance with section forty-one C, the articles of amendment shall also set forth—(a) the total amount of capital stock already authorized; (b) the amount of stock already issued for cash payable by instalments and the amount paid thereon; and the amount of full paid stock already issued for cash, property, services or expenses; (c) the amount of additional stock authorized; (d) the amount of such stock to be issued for cash, property, services or expenses, respectively; (e) a description of said property and a statement of the nature of said services or expenses, in the manner required by section ten.

Terms Used In Massachusetts General Laws ch. 156 sec. 44

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.