Massachusetts § 1 - Definitions
Full text of Massachusetts Massachusetts General Laws § 1 — Definitions, with citation guidance and answers to common questions.
§ 1. Definitions
Section 1. (a) As used in sections 1 to 9, inclusive, of this chapter the words ''board'' or ''board of bank incorporation'' shall, unless the context clearly requires otherwise, mean a board consisting of the commissioner of banks, the commissioner of revenue and the state treasurer.
(b) As used in this chapter the following words shall, unless the context clearly requires otherwise, have the following meanings:—
''Capital stock'', the sum of the par value of the preferred and common shares of capital stock, issued and outstanding.
''Commissioner'', the commissioner of banks.
''Common stock'', the shares of capital stock of a trust company, other than preferred stock.
''Incorporators'', subscribers to the agreement of association for the purpose of forming a trust company under this chapter.
''Officer'', any individual designated as such in accordance with the by-laws including, whether or not so designated, the president, vice-president, treasurer and the clerk or secretary, or any individual who performs the duties appropriate to those offices.
''Stockholder'', a registered owner of shares of capital stock of a trust company.
''Surplus account'', an account so designated on the books of a trust company and consisting of such amounts as shall be required by law or shall be transferred thereto by vote of the board of directors.
''Trust company'' or ''corporation'', a trust company incorporated as such in the commonwealth.
Frequently Asked Questions About Massachusetts § 1
What does Massachusetts General Laws § 1 cover?
Section 1 ("Definitions") 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 § 1?
A common citation format is "Massachusetts General Laws § 1" (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 § 1 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.