Section 13. The directors shall be elected annually by the stockholders by ballot, and the president shall be elected annually by and from the board of directors, and the treasurer and the clerk annually by said board. Every director, unless the by-laws otherwise provide, shall be a stockholder. The treasurer may be required to give a bond for the faithful performance of his duty in such sum and with such sureties as the by-laws may prescribe. The clerk, who shall be a resident of the commonwealth, shall be sworn, and shall record all votes of the company in a book kept therefor. The officers of a company shall hold officer for one year and until their successors are qualified. All other agents and officers shall be chosen or appointed, and all vacancies filled, in the manner prescribed by the by-laws, or, in default of such by-law, by the board of directors. Any requirement in the general laws of action to be taken or instruments to be signed by the president, directors, or a majority of the directors, of a company, relative to grants, extensions, alterations, and revocations of location, abolition of grade crossings and rights in state highways, shall be sufficiently and legally complied with if such action is taken by a vote, or if such instrument is executed in accordance with, and by the persons designated in, a vote of the directors of such company, at a meeting duly and properly held, at which a quorum of the board is present.
Structure Massachusetts General Laws
Part I - Administration of the Government
Section 3 - Persons Forming Company
Section 4 - Contents of Agreement of Association; Duties of Associates
Section 5 - Clerk and Treasurer of Association; Term; Vacancies
Section 6 - Publication of Agreement of Association
Section 8 - Certification of Facts Relating to Formation; Presentation to Department
Section 9 - Certificate of Incorporation
Section 10 - First Meeting of Incorporators; Notice; Waiver of Notice
Section 11 - Adoption of By-Laws; Election of Directors
Section 12 - Management of Business
Section 14 - Stockholders' Meetings
Section 16 - Voting by Corporation of Own Shares
Section 17 - Voting by Shareholders; Proxies
Section 18 - Directors' Meetings
Section 19 - Stock Certificates
Section 20 - Issuance of Certificate
Section 20a - Change of Par Value of Capital Stock
Section 21 - Assessments; Default of Shareholder
Section 22 - Collection of Assessments
Section 23 - Subscription for Stock; Payment for Stock; Conditions to Building Railway
Section 24 - Liability Prior to Payment for Capital Stock
Section 25 - Purposes Authorizing Increase in Capital Stock or Bond Issue; Action of Department
Section 26 - Supplying Working Capital; Stock Increase or Bond Issue
Section 27 - Reduction of Capital Stock; Approval of Department; Liability of Directors
Section 28 - Issue of Stock and Bonds; Authorization; Certificate of Department; Filing
Section 29 - Limit of Issue of Bonds, Coupon Notes and Other Evidences of Indebtedness
Section 30 - Enforcement of Provisions Relating to Issue of Stocks and Bonds
Section 31 - Penalty for Improper Issue of Stocks and Bonds
Section 33 - Exchange of Common for Preferred; Limitations
Section 35 - Preferred Stock; Voting Powers; Issue, Etc.
Section 37 - Effect of Issue; Liability of Directors
Section 38 - Time to Begin Operation; Extension
Section 39 - Extension of Railway Into Other Cities and Towns
Section 40 - Connecting Locations
Section 41 - Real and Personal Estate; Stock or Bonds of Other Street Railways
Section 42 - Recreation and Pleasure Resorts; Sale of Alcoholic Beverages
Section 44 - Use of Motor Vehicles Not Running on Rails
Section 45 - Manufacture, Use and Transmission of Electricity
Section 46 - Use of Tracks by Another Railway
Section 47 - Interchange of Traffic and Cars Between Companies
Section 48 - Use of Railroad Tracks
Section 49 - Street Sprinkling Cars Upon Railway Tracks
Section 50 - Municipal Street Maintenance Cars Upon Railway Tracks
Section 51 - Coal and Other Supplies
Section 53 - Common Carriers of Newspapers, Baggage, Express Matter and Freight
Section 54 - Operation Outside Limits of Public Way or Bridge
Section 55 - Authorization to Operate on Private Land
Section 57 - Laws Applicable to Railways Located on Private Land
Section 60 - Eminent Domain; Crossing of Public Way
Section 61 - Eminent Domain; Construction of Secs. 58 to 60
Section 63 - Sale or Consolidation With Intersecting or Continuing Line
Section 64 - Financing Sale or Consolidation
Section 65 - Powers and Duties of Combined Companies
Section 66 - Use of Facilities of One Railway by Another
Section 67 - Powers of Railway Contracting for Operation of Railway or Taking Lease of Railway
Section 68 - Sale of Portion of Railway; Payment of Dividends From Money Received
Section 69 - Purchase of Connecting or Intersecting Line of Company Organized in Another State
Section 69a - Merger of Association or Trust Owning Capital of Company Into Company
Section 70 - Extension of Location; Proceedings
Section 71 - Alteration of Location; Proceedings
Section 72 - Authorization to Grant in Public Way or Upon Private Land
Section 73 - Authorization to Grant While Bridge Closed
Section 74 - Application to Department
Section 75 - Termination of Location
Section 76 - Cost of Temporary Tracks Constructed Due to Alteration of Grade Crossing
Section 78 - Expense of Widening; Way Not Presently Containing Track
Section 79 - Expense of Altering or Changing Grade; Way Containing Track
Section 80 - Method as Assessing
Section 81 - Application to Have Way Designated as Highway; Determination; Payment for Damages
Section 82 - Power of Department of Highways
Section 83 - Certificate of Compliance
Section 84 - Rate of Speed; Use of Tracks; Number and Routes of Cars
Section 85 - Clearance of Snow From Tracks; Regulations of Department of Highways
Section 86 - Voluntary Discontinuance of Use of Tracks; Removal of Track
Section 87 - Temporary Discontinuance of Use of Tracks
Section 88 - Liability of Municipality for Alteration or Discontinuance of Public Way
Section 89 - Opening Way or Bridge to Make Repairs; Liability for Loss or Injury
Section 90 - Liability of Municipality; Recovery From Railway
Section 91 - Guards and Railings on Bridges
Section 92 - Stopping at Railroad Crossings
Section 93 - Warning of Approach of Street Car
Section 94 - Obstruction of Tracks
Section 94a - Littering Public Transportation Facilities; Penalty
Section 96 - Obstruction of Ways and Bridges by Railway; Penalty
Section 97 - Children Selling Newspapers on Railway Cars; Penalty
Section 98 - Safety Devices for Cars and Station Platforms
Section 99 - Emergency Tools and Lifting Jack
Section 100 - Heating Railway Cars
Section 101 - Enclosure of Platforms During Winter Months
Section 102 - Failure to Enclose Platforms During Winter Months; Penalty
Section 103 - Hours of Employment per Day; Penalty
Section 104 - Reasonable Accommodations for Passengers
Section 105 - Additional Passenger Accommodations
Section 106 - Assumption of Risk
Section 108 - Railway Fares; Students' Rates
Section 109 - Regulation of Fares; Railroads and Street Railways
Section 110 - Free Checks or Transfers From One Railway Car to Another; Regulation
Section 111 - Notice of Change of Service
Section 112 - Notice of Change of Tariff or Rates to Municipalities
Section 113 - Misuse of Transfer Ticket; Penalty
Section 114 - Transportation of Milk and Cream
Section 115 - Railway Service Provided at Cost; Acceptance of Secs. 115 to 128
Section 116 - Cost of Service; Definitions
Section 118 - Service at Cost; Application to Determine Status of Unfunded Debt
Section 119 - Use of Reserve Fund
Section 121 - Change in Grades of Railway Fare
Section 122 - Improvement Fund
Section 123 - Sale of Railway Property and Franchise to State or Municipality
Section 124 - Directors Appointed by Governor; Qualifications; Powers and Privileges
Section 125 - Monthly Condition Statements; Supervision and Investigation by Department
Section 126 - Acceptance of Secs. 115 to 128; Commencement of Operations
Section 127 - Disposal of Property No Longer of Service
Section 129 - Avoiding or Abolishing Grade Crossings; Eminent Domain
Section 130 - Construction of Overpasses and Underpasses
Section 131 - Structures or Alterations Within Public Way or State Highway
Section 132 - Change of Railway Company's Name; Authorization
Section 133 - Filing of Certificate of Name Change
Section 134 - Rights and Liabilities of Railway Company Under New Name
Section 135 - Authorization of Sale by Receiver of Railway Property; Powers and Duties of Purchaser
Section 136 - Content of Agreement of Association of Purchasers; Execution of Agreement
Section 137 - Certificate of Incorporation; Organization of Railway Company
Section 138 - Annual Return Transmitted to Department by Street Railway Company Directors
Section 139 - Tables and Abstracts Prepared by Department
Section 140 - Street Railway Lessee's Annual Return
Section 141 - Retention of Records by State Departments and Commissions
Section 142 - Equity Jurisdiction
Section 143 - Establishment of Area
Section 144 - Preliminary Agreements
Section 145 - Acceptance of Preliminary Agreements
Section 146 - Management of Transportation Area; Appointment and Compensation of Trustees
Section 147 - Powers of Trustees; Status of Employees of Acquired Private Companies
Section 149 - Taking of Railway by Eminent Domain
Section 151 - Finances of Transportation Areas
Section 152 - Municipal Borrowing; Limitations
Section 154 - Exclusion of Municipality From Transportation Area
Section 155 - Leases of Street Railway Property; Amount of Rental; Term; Renewals; Termination
Section 156 - Establishment of Fare Zones and Rates of Fare
Section 157 - Care of Leased Railway Property
Section 159 - Massachusetts Bay Transportation Authority; Application of Secs. 143 to 158
Section 160 - Transportation Areas; Application of Secs. 143 to 158