Section 14. A conveyance to an aqueduct company of real or personal property at a fair valuation shall be a sufficient payment of the capital stock to the extent of such value, if a description of such property and a statement of the value at which it has been taken in payment, in such detail as the state secretary shall require or approve, is included in the certificate mentioned in the preceding section, and a statement that he is satisfied that such valuation is fair and reasonable is endorsed by him upon such certificate.
‹ Prev All Massachusetts sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.