reglab/housing_qa huggingface dataset:
MA Gen L ch 161 § 23 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 23 - Subscription for Stock; Payment for Stock; Conditions to Building Railway

Section 23. A company shall not begin to build its railway until it shall have filed in the office of the state secretary a certificate, signed and sworn to by its president, treasurer, clerk and a majority of its directors, stating that the amount of its capital stock has been unconditionally subscribed for by responsible parties, and that fifty per cent of the par value of each share thereof has been paid in cash.
MA Gen L ch 161 § 24 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 24 - Liability Prior to Payment for Capital Stock

Section 24. The directors of a company shall be jointly and severally liable, to the extent of its capital stock, for all its debts and contracts, until the whole amount of its capital stock as originally fixed by its agreement of association, or if a chartered company, by its directors, and authorized by the department, shall have been paid in, and until a certificate stating the amount thereof so fixed and paid in shall have been signed and sworn to by its president, treasurer, clerk and a majority of its directors, and filed in the office of the state secretary.
MA Gen L ch 161 § 25 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 25 - Purposes Authorizing Increase in Capital Stock or Bond Issue; Action of Department

Section 25. A company, for the purpose of building an extension, or acquiring land for pleasure resorts, or acquiring or building power houses or car houses or park buildings, or acquiring or equipping additional rolling stock, or changing its motive power, or furnishing electricity to a town for light, or abolishing grade crossings, or paying betterment assessments for widening or otherwise altering streets, or complying with any requirements lawfully imposed, or making permanent investments or improvements, or acquiring any additional real or personal property necessary or convenient for its corporate objects, or refunding its funded debt, or paying money borrowed or indebtedness incurred for any of the foregoing purposes, or other similarly necessary and lawful purposes, may, in accordance with sections twenty-eight and twenty-nine of this chapter, sections fifty to fifty-two, inclusive, of chapter one hundred and fifty-nine and sections forty-seven to fifty-five, inclusive, of chapter one hundred and sixty, increase its capital stock or issue bonds, secured by mortgage or otherwise, to such an amount, beyond the amounts fixed and limited by its agreement of association or its charter, or by any special law, as the department shall determine will realize the amount which has been properly expended or will be properly required, and as the department shall approve for such of the purposes aforesaid as are set out in its petition to the department.  The department, in authorizing the issue of any bonds under this section, may prescribe the minimum price at which such bonds shall be sold, and may modify such price from time to time, as it deems proper. Whenever it authorizes or has approved the issue or sale of bonds of a face value in excess of the amount determined by it to have been properly expended or to be properly required, it may, in its order of approval, or at any time thereafter, require the company issuing such bonds to establish a sinking fund, estimated to realize at the maturity of said bonds a sum equal to the difference between the amounts for which such bonds were authorized or approved, and the face value of the bonds so authorized or approve therefor, and may designate a domestic trust company as trustee and custodian of such fund, and may from time to time change such trustee. Any agreement relative to said sinking fund, made between the street railway company and the trust company selected as such trustee, shall not be valid until approved by the department.
MA Gen L ch 161 § 26 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 26 - Supplying Working Capital; Stock Increase or Bond Issue

Section 26. In addition to the purposes for which a company may increase its capital stock or issue bonds, as provided in the preceding section, a company to supply itself with working capital may, in accordance with sections twenty-eight, twenty-nine and thirty-one of this chapter or sections fifty to fifty-two, inclusive, of chapter one hundred and fifty-nine, in the case of companies to which said last named sections are applicable, and of sections forty-seven to fifty-five, inclusive, of chapter one hundred and sixty, increase its capital stock to an amount not exceeding five per cent of the par value thereof then outstanding, or may issue bonds, secured by mortgage or otherwise, to such an amount, beyond the amounts fixed and limited by its agreement of association, or by any general or special law, and not more than the department shall determine will be properly required therefor, as the department shall approve as being consistent with the interest of the public and of the stockholders of such company and as not unreasonably reducing the security of any bond previously issued.
MA Gen L ch 161 § 27 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 27 - Reduction of Capital Stock; Approval of Department; Liability of Directors

Section 27. On petition of a company for authority to reduce its capital stock, presented in accordance with a vote of the stockholders at a meeting called therefor, the department may, after a hearing and such examination of the financial condition of the company as it considers necessary, authorize such reduction, if it appears to be consistent with the public interest and with the limitations imposed by general or special laws. A certificate of the amount of the reduction and of any terms and conditions imposed shall be forthwith filed by the department in the office of the state secretary. When such reduction is made, no money or other property shall be paid or transferred to the stockholders unless specially authorized by the department, and by vote of the directors of the company taken by yeas and nays at a meeting called therefor. The directors voting therefor shall be jointly and severally liable for the debts or contracts of the company existing when the capital stock is reduced, to the extent of the money or property paid or transferred to the stockholders.
MA Gen L ch 161 § 28 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 28 - Issue of Stock and Bonds; Authorization; Certificate of Department; Filing

Section 28. A company shall issue only such amounts of stock and bonds, coupon notes and other evidences of indebtedness payable at periods of more than one year after the date thereof, as the department may from time to time determine to be reasonably necessary for the purpose for which such issue of stock or bonds has been authorized. The department shall render a written decision upon an application for such issue within thirty days after the final hearing thereon, assigning the reasons therefor, and shall, if authorizing such issue, specify the respective amounts of stock, bonds, coupon notes or other evidences of indebtedness as aforesaid, which are authorized to be issued for the respective purposes to which the proceeds thereof are to be applied, and the decision shall, within seven days after it has been rendered, be filed in the office of the department. A certificate of the decision shall, within three days after it has been rendered and before the stock, bonds, coupon notes or other evidences of indebtedness as aforesaid are issued, be filed in the office of the state secretary, and a duplicate thereof delivered to the company. Such company shall not apply the proceeds of such stock, bonds, coupon notes or other evidences of indebtedness as aforesaid to any purpose not specified in such certificate.
MA Gen L ch 161 § 29 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 29 - Limit of Issue of Bonds, Coupon Notes and Other Evidences of Indebtedness

Section 29. A company, unless expressly authorized by its charter or by special law, shall not issue bonds, coupon notes or other evidences of indebtedness payable at periods of more than one year after their date to an amount which, including the amount of all such securities previously issued and outstanding, computed as provided in section fifty-three of chapter one hundred and fifty-nine, exceeds in the whole the amount of its capital stock at the time actually paid in; but this limitation shall not apply to an issue of bonds for the purpose of paying and refunding at maturity bonds lawfully issued prior to June second, eighteen hundred and ninety-seven; nor shall it apply to such of the bonds issued or to be issued under a mortgage as are deposited to retire at or before maturity bonds or other evidences of indebtedness previously issued and outstanding at the date of such mortgage, and as do not exceed the par value of the funded or other debt so to be retired; nor shall it apply to bonds, coupon notes or other evidences of indebtedness payable at periods of more than one year after their date, in addition to, and not exceeding twenty per cent of, the amount so computed, which shall be authorized as consistent with the public interest by the department, and which shall be subject to such requirement as to a sinking fund or other method of retiring said evidences of indebtedness within a period not exceeding ten years, as the department may prescribe, to provide means for, or to fund, the actual cost of replacement or reconstruction of any existing property; and such company shall not issue the securities specified in this section unless authorized by a vote of its stockholders at a meeting called therefor.
MA Gen L ch 161 § 30 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 30 - Enforcement of Provisions Relating to Issue of Stocks and Bonds

Section 30. The supreme judicial or superior court shall have jurisdiction in equity, upon the application of the department, the attorney general, any stockholder, or any interested party, to enforce the two preceding sections and all lawful orders and decisions, conditions or requirements of said department made in pursuance thereof.
MA Gen L ch 161 § 31 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 31 - Penalty for Improper Issue of Stocks and Bonds

Section 31. A director, treasurer or other officer or agent of a company who knowingly votes to authorize the issue of, or knowingly signs, certifies or issues, stock or bonds contrary to any provision of section twenty-eight or twenty-nine, or who knowingly votes to authorize the application, or knowingly applies the proceeds, of such stock or bonds contrary to any provision of said sections, or who knowingly votes to assume or incur, or knowingly assumes or incurs in the name or behalf of such company, any debt or liability except for legitimate purposes of the company shall be punished by a fine of not more than one thousand dollars or by imprisonment for not more than one year, or both.
MA Gen L ch 161 § 32 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 32 - Preferred Stock

Section 32. A company organized under the laws of the commonwealth may, by vote of two thirds in interest of its common stockholders at a meeting duly called therefor, with the approval of the department, and subject to section twenty-eight of this chapter and section fifty-two of chapter one hundred and fifty-nine, issue, and from time to time increase, preferred stock of one or more classes, for any lawful purposes for which such companies may issue or increase their capital stock. Each class of preferred stock shall be entitled to the preferences and rights and subject to the restrictions and limitations fixed by such vote as approved by the department.
MA Gen L ch 161 § 33 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 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.
MA Gen L ch 161 § 34 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 34 - Designation of Each Class of Preferred; Record of Proceeding Creating Class; Content of Certificate

Section 34. Each class of preferred stock issued under sections thirty-two to thirty-five, inclusive, shall be designated by a name approved by the department to distinguish it from all other classes of stock of the company. A certified copy of the vote creating, and of the order of the department approving, the creation of any class of preferred stock shall be filed in the office of the department and in the office of the commissioner of revenue. Every certificate of stock issued by such company after the approval by the department of the creation by it of preferred stock shall contain a reference to all votes creating preferred stock and a brief description of the respective preferences, rights and restrictions of each class of such stock.
MA Gen L ch 161 § 35 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 35 - Preferred Stock; Voting Powers; Issue, Etc.

Section 35. Preferred stock issued under sections thirty-two to thirty-five, inclusive, shall have the same voting power as the common stock, except that, in any case, there may be such limitations of the voting power of said preferred stock as the department approves and finds consistent with public interest. The aggregate amount at par of preferred stock of all classes issued by a company shall at no time exceed twice the amount at par value of its outstanding common stock, except when such excess shall result from a reduction in the aggregate par value of its outstanding common stock made under either section twenty A or section twenty-seven, and no class of preferred stock shall be created which is not, in a manner approved by the department, made subordinate in respect to dividends or to participation in the proceeds of liquidation to the preferences of every previously created class of preferred stock. Upon any issue of preferred stock the new shares shall, unless the common stockholders with the approval of the department otherwise provide, first be offered to the common stockholders in the manner prescribed in sections fifty to fifty-two, inclusive, of chapter one hundred and fifty-nine, and any shares of the preferred stock not duly subscribed and paid for by the common stockholders or their assigns shall be offered in the same manner to the holders of preferred stock of the same class; and any of such preferred shares then remaining untaken, and all of the preferred shares if the common stockholders so determine and the department approves, may be sold in the manner provided by and subject to section fifty-one of chapter one hundred and fifty-nine. In case of any increase in the common stock of the company, holders of preferred stock shall be entitled to have offered to them shares of the new stock in the manner provided in sections fifty to fifty-two, inclusive, of chapter one hundred and fifty-nine, whenever the vote creating such preferred stock as approved by the department shall so provide.
MA Gen L ch 161 § 36 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 36 - Prohibition

Section 36. A company shall not declare any stock or scrip dividend or divide the proceeds of the sale of stock or scrip among its stockholders.
MA Gen L ch 161 § 37 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 37 - Effect of Issue; Liability of Directors

Section 37. A certificate of stock or scrip issued in violation of the preceding section shall be void; and each director of the company issuing it shall be liable to a penalty of one thousand dollars, to be recovered by indictment in the county where he resides, or, if he resides in no county in the commonwealth, in the county where he is commorant, or the offence was committed; but if any such director proves that, before such issue, he filed his written dissent thereto with the clerk, and at no time voted therefor, he shall not be so liable.
MA Gen L ch 161 § 38 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 38 - Time to Begin Operation; Extension

Section 38. A company, incorporated under the laws of the commonwealth, may, subject to this chapter and chapter one hundred and fifty-nine, construct, maintain and operate a street railway, but, if such company does not build and put in operation its railway within eighteen months after the date of its certificate of incorporation, its corporate powers shall cease, unless the department, after public notice and a hearing, shall extend said time by a certificate, stating that in its judgment due diligence has been exercised by the company, and that public necessity and convenience required such extension.
MA Gen L ch 161 § 39 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 39 - Extension of Railway Into Other Cities and Towns

Section 39. A company, which, by its charter or certificate of incorporation, or by special act, is authorized to construct, maintain and operate a street railway in any city or town in the commonwealth, and which has constructed its railway therein, may, subject to the provisions of the general laws relative to the location, construction and operation of street railways, extend its railway into such other cities and towns in the commonwealth as the department shall, on application of such company, and after public notice and a hearing, certify that the public necessity and convenience require. An attested copy of such certificate shall, within three days after it is granted, be filed by the department in the office of the state secretary.
MA Gen L ch 161 § 40 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 40 - Connecting Locations

Section 40. A company whose petition for a location, necessary, in the judgment of the department, to furnish proper transportation facilities between two cities, or two towns, or a city and town, has in whole or in part been granted or refused, or has been neither granted nor refused within three months after the filing thereof, may, within thirty days of such grant or refusal of a location, or the expiration of said three months, apply to the department for such location. If it shall appear at a hearing on said application, after such notice to the board of aldermen or the selectmen, and to all persons who own real estate abutting upon any way in which such location was asked for, by publication or otherwise, as the department orders, that the company has already been granted and has accepted locations for a street railway in two cities, or two towns, or a city and town, adjoining the city or town where such location has been asked for, or has already been granted and has accepted locations for a street railway in two adjoining cities, or two adjoining towns, or an adjoining city and town, and that a location is necessary to connect such existing locations, the department may, if it finds that public necessity and convenience so require, enter a decree granting a connecting location. In granting the location the department may prescribe the appliances and impose the conditions and obligations which are specified or referred to in section seven relative to the granting of original locations. Such location shall be the true location, if, within thirty days after the issue of notice to the company of the entry of said decree, the directors shall file a written acceptance of such location with the department; otherwise, said location shall be void.
MA Gen L ch 161 § 41 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 41 - Real and Personal Estate; Stock or Bonds of Other Street Railways

Section 41. A company may purchase and hold real and personal estate necessary or convenient for the operation of its railway; but it shall not, except as provided in section sixty-four, directly or indirectly, subscribe for, take or hold stock or bonds of any such company organized under general laws unless specially so authorized by the general court.
MA Gen L ch 161 § 42 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 42 - Recreation and Pleasure Resorts; Sale of Alcoholic Beverages

Section 42. A company may, except in Boston, acquire, hold, maintain and equip land for purposes of recreation and for pleasure resorts, provided that the department shall find that the acquisition, equipment and maintenance of such land for such purposes and the cost thereof and other circumstances relating thereto are consistent with the public interest. Such recreation and pleasure resorts shall be subject in the same manner as other places of amusement to the supervision and regulation of the local authorities of the cities or towns where situated, and shall be subject to such further restrictions as the department may from time to time impose. No company shall sell alcoholic beverages, as defined in section one of chapter one hundred and thirty-eight, or allow them to be sold within the limits of any resort held or maintained by it; nor shall it sell without the approval of the department any land so acquired. No company shall contribute, directly or indirectly, by payment of money or otherwise, except in such cases and to such extent as the department shall first approve, to the establishment, equipment or maintenance of any recreation park or pleasure resort not owned by such company.
MA Gen L ch 161 § 43 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 161 - Street Railways|Section 43 - Motive Power

Section 43. A company may use electricity, or such other motive power, other than steam, as the department may permit.