Massachusetts General Laws ch. 160 sec. 24 – Certificate of compliance; filing; certificate of incorporation
Section 24. When it is shown to the satisfaction of the department that the requirements of this chapter preliminary to the incorporation of a railroad corporation have been complied with, the clerk of the department, upon its order, shall annex to the agreement of association a certificate stating that such requirements have been complied with. The directors shall thereupon file the agreement of association, with all the certificates annexed thereto, in the office of the state secretary, who, upon the payment to him of a fee, the amount of which shall be determined annually by the commissioner of administration under the provision of section three B of chapter seven, said state secretary, shall receive and preserve the same in form convenient for reference and open to public inspection, and shall thereupon issue a certificate of incorporation substantially in the following form:
COMMONWEALTH OF MASSACHUSETTS.
Terms Used In Massachusetts General Laws ch. 160 sec. 24
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Be it known that whereas (names of the subscribers to the agreement of association) have associated themselves with the intention of forming a corporation under the name of the (name of the corporation), for the purpose of locating, constructing, maintaining and operating a railroad (description of the railroad as in the agreement of association), and have complied with the statutes of this commonwealth in such cases made and provided: Now, therefore, I, , secretary of the commonwealth of Massachusetts, do hereby certify that the persons aforesaid, their associates and successors, are legally established as a corporation under the name of the (name of the corporation), with all the powers and privileges, and subject to all the duties, liabilities and restrictions, set forth in all general laws which now are or hereafter may be in force relating to railroad corporations.
In witness whereof, I have hereunto subscribed my official signature, and affixed the great seal of said commonwealth, this day of , in the year .
The state secretary shall sign the certificate of incorporation, and cause the great seal of the commonwealth to be thereto affixed, and such certificate shall have the force and effect of a special charter. The state secretary shall also cause a record of the certificate of incorporation to be made, and such certificate, or such record, or a certified copy thereof, shall be conclusive evidence of the existence of such corporation.