Massachusetts General Laws ch. 182 sec. 4 – Trusts owning or controlling certain public utilities; annual statement
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Section 4. The trustees of an association or trust who own or control a majority of the capital stock of a railroad, street railway, electric railroad, elevated railway, gas, electric or water company, or corporation engaged in the common carriage of passengers by motor vehicle shall annually on or before April first file with the secretary and with the department a statement showing the number of shares of such company or corporation owned or controlled by them and the stockholders of record on the books of such company or corporation in whose names such shares are held. Every such trustee who fails to comply with this section shall be punished by a fine of not more than five hundred dollars or by imprisonment for three months.
Terms Used In Massachusetts General Laws ch. 182 sec. 4
- 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.
- Trustee: A person or institution holding and administering property in trust.