Section 40. A corporation shall, within thirty days after a reduction of its capital stock is voted, file in the office of the state secretary and also, if the corporation is subject to chapter one hundred and sixty-four, in the office of the department of telecommunications and energy, a copy of the vote authorizing such reduction, signed and sworn to by its clerk.

Terms Used In Massachusetts General Laws ch. 158 sec. 40

  • 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.
  • state secretary: means the secretary of the commonwealth. See Massachusetts General Laws ch. 158 sec. 1
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