Massachusetts § 33 - Exchange of common for preferred; limitations
Full text of Massachusetts Massachusetts General Laws § 33 — Exchange of common for preferred; limitations, with citation guidance and answers to common questions.
§ 33. Exchange of common for preferred; limitations
Section 33. Any such company may, upon such terms and in such manner as shall be determined by vote of two thirds in amount of its outstanding common capital stock and as shall be approved by the department, issue in lieu of outstanding common shares preferred shares to such number, of such par value and with such preferences, rights, restrictions and limitations and entitled to such rate of preferred dividend as shall so be determined and approved; provided, that the aggregate par value of such preferred stock shall not exceed the aggregate par value of the common stock in exchange for which it is issued.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 33
What does Massachusetts General Laws § 33 cover?
Section 33 ("Exchange of common for preferred; limitations") 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 § 33?
A common citation format is "Massachusetts General Laws § 33" (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 § 33 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.