Massachusetts § 33 - Payment for capital stock
Full text of Massachusetts Massachusetts General Laws § 33 — Payment for capital stock, with citation guidance and answers to common questions.
§ 33. Payment for capital stock
Section 33. The capital stock, except as provided in this section, shall be paid in in cash. The conveyance to the corporation of real or personal property at a fair valuation shall be a sufficient paying in of its capital stock to the extent of such value, if a statement, made, signed and sworn to by its president, treasurer and a majority of its directors, giving a description of such property and the value at which it has been taken in payment, in such detail as the secretary shall require or approve, and endorsed with his certificate that he is satisfied that said valuation is fair and reasonable, is filed with the state secretary. Such statement shall be included in the certificate of payment of capital required by the preceding section. No note or obligation given by a stockholder, whether secured by pledge or otherwise, shall be considered as payment of any part of the capital stock.
Frequently Asked Questions About Massachusetts § 33
What does Massachusetts General Laws § 33 cover?
Section 33 ("Payment for 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 § 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.