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The 192nd General Court of the Commonwealth of Massachusetts

Section 18: Consideration for issuance of stock

Section 18. Capital stock may be issued for cash, tangible or intangible property, services, or for a debt, note or expenses. Stock having par value shall not be issued for cash, property, services or expenses worth less than the par value. For the purpose of the second sentence, a debt or note of the purchaser secured or unsecured shall not be considered property.