{"data":{"id":"us-ma/mass.-gen.-laws-ch.-160-56","jurisdiction":"us-ma","citation":"Mass. Gen. Laws ch. 160, § 56","heading":"Necessity of payment of par for shares; limit upon capital stock","body":"Section 56. A railroad corporation shall not declare any stock or scrip dividend or divide the proceeds of the sale of stock or scrip among its stockholders; nor shall any such corporation issue any share of stock to any person unless the par value of the shares so issued is first paid in cash to its treasurer; nor shall it without authority of the general court increase its capital stock beyond the maximum amount fixed by its act of incorporation, or fixed under sections forty-one, forty-seven and forty-eight.","path":["Part I","Title XXII","Chapter 160"],"source_url":"https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter160/Section56","current_through":"amendments passed before May 31, 2026","vintage":"","retrieved_at":"2026-09-17T05:23:46Z","sha256":"54e4b08e38d6b605502ce4354dc4ff10dba5f6d39d579749f7daae158151134e","source_id":"us-ma","stale":false,"prev":"us-ma/mass.-gen.-laws-ch.-160-55","next":"us-ma/mass.-gen.-laws-ch.-160-57"},"notice":"GroundRules: Original legal text. Not legal advice."}