Massachusetts § 16 - Making good impairment of capital stock
Full text of Massachusetts Massachusetts General Laws § 16 — Making good impairment of capital stock, with citation guidance and answers to common questions.
§ 16. Making good impairment of capital stock
Section 16. If, when the department approves an issue of new stock, bonds or other securities by a gas or electric company, it determines that the fair structural value of the plant and of the land and the fair value of the nuclear fuel, gas inventories or fossil fuel inventories owned by such company is less than its outstanding stock and debt, it may prescribe such conditions and requirements as it deems best adapted to make good within a reasonable time the impairment of the capital stock; or before allowing an increase, it may require the capital stock to be reduced by a prescribed amount, not exceeding the amount of such impairment. The amount of impairment and the conditions and requirements imposed shall be stated in the annual report of the department. The supreme judicial or superior court shall have jurisdiction in equity, on application of the department, the attorney general, any stockholder or any interested party, to enforce this section and section fourteen and all orders and decisions, conditions or requirements of the department made in pursuance thereof.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 16
What does Massachusetts General Laws § 16 cover?
Section 16 ("Making good impairment of capital stock") 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 § 16?
A common citation format is "Massachusetts General Laws § 16" (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 § 16 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.