Massachusetts § 13 - Mortgage of property

§ 13. Mortgage of property

Section 13. A corporation subject to this chapter may, by vote of the holders of a majority of its shares outstanding and entitled to vote thereon at a meeting called therefor, or by vote of its directors under authority of a vote of the holders of a majority of its shares outstanding and entitled to vote thereon at a meeting called therefor, mortgage all or substantially all of its property, including its franchise. All persons who acquire any mains, conduits, poles, wires, fixtures or other apparatus in, over, under or across public ways by virtue of such mortgage shall have the same rights and be subject to the same obligations relative to their erection, care, maintenance and operation as the corporation would have had, or would have been subject to, if the mortgage had not been made.