Section 28. The commissioner shall annually assess upon every corporation or organization required by law to make deposits in trust with the state treasurer one twentieth of one per cent of the average of such deposits by it for the year last preceding such assessment. Such assessment shall be collected in the same manner as taxes upon corporations.

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Terms Used In Massachusetts General Laws ch. 58 sec. 28

  • 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.
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