Massachusetts § 122 - Improvement fund
Full text of Massachusetts Massachusetts General Laws § 122 — Improvement fund, with citation guidance and answers to common questions.
§ 122. Improvement fund
Section 122. The company shall provide an improvement fund of an amount required by the department but not exceeding five per cent of the capital investment. Such fund may be raised by the issue of bonds or stock or preferred stock. It shall be fully subscribed within sixty days after determination of the capital investment of the company, and shall be paid in from time to time, as required, by a plan of gradual improvement to be approved by the department.
Frequently Asked Questions About Massachusetts § 122
What does Massachusetts General Laws § 122 cover?
Section 122 ("Improvement fund") is part of the Massachusetts General Laws, the codified statutory law of Massachusetts. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Massachusetts § 122?
A common citation format is "Massachusetts General Laws § 122" (Massachusetts). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Massachusetts law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Massachusetts official source linked on this page or consult a licensed Massachusetts attorney.
How does Massachusetts § 122 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Massachusetts can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Massachusetts.