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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XV REGULATION OF TRADE
  • CHAPTER 107 MONEY AND REGISTRATION, ISSUANCE AND REDEMPTION OF BONDS AND OTHER SECURITIES, FACSIMILE SIGNATURES
  • Section 8 Penalties

Section 8. Violations of the preceding section shall be punished by a fine of not more than two thousand dollars or by imprisonment for not more than one year. Any such violation, if by a domestic corporation, shall operate as a forfeiture of its franchise and, if by a foreign corporation, association or organization, as a discontinuance of its right to do business in the commonwealth; and the supreme judicial or superior court, upon the application of the state secretary, may enjoin such foreign corporation, association or organization from further continuing its business in the commonwealth. The court may appoint a receiver to take possession of the property of such corporation, association or organization, and to close up the business, subject to the order of the court.