Section 56. A railroad corporation shall not declare any stock or scrip dividend or divide the proceeds of the sale of stock or scrip among its stockholders; nor shall any such corporation issue any share of stock to any person unless the par value of the shares so issued is first paid in cash to its treasurer; nor shall it without authority of the general court increase its capital stock beyond the maximum amount fixed by its act of incorporation, or fixed under sections forty-one, forty-seven and forty-eight.
Structure Massachusetts General Laws
Part I - Administration of the Government
Section 2 - Boston; Tribunal Acting in Place of County Commissioners
Section 4 - Corporation Chartered Concurrently With Another State
Section 5 - Corporation or Trustees Operating Railroad of Another
Section 6 - Purchase of Railroad by Commonwealth
Section 7 - Taking by Eminent Domain
Section 8 - Map and Engineer's Report to Accompany Petition for Charter
Section 9 - Depositary for Plans and Profiles
Section 11 - Limits Specified in Charter
Section 14 - Contents of Agreement of Association
Section 15 - Associates' Authority
Section 16 - Publication of Agreement of Association
Section 17 - Application for Certificate of Public Convenience and Necessity
Section 18 - Map; Engineer's Report
Section 20 - Fixing of Route by Local Officials; Certificate Fee
Section 21 - Fixing of Route by Department Upon Failure to Agree
Section 22 - Spurs, Branches and Connecting and Terminal Tracks
Section 23 - Certificate of Facts of Subscription
Section 24 - Certificate of Compliance; Filing; Certificate of Incorporation
Section 25 - Change in Amount of Capital Stock; Change of Gauge
Section 26 - Limit Upon Time to Acquire Certificate of Incorporation
Section 27 - Limit Upon Time to Construct Railroad
Section 28 - Narrow Gauge Railroads; Paid-Up Capital Stock
Section 29 - First Meeting of Incorporators; Notice; Waiver of Notice
Section 30 - Adoption of By-Laws; Election of Directors
Section 31 - Managing Officers
Section 33 - Stockholders' Meeting
Section 35 - Voting by Corporation Upon Its Own Stock
Section 36 - Voting Rights of Stockholders
Section 37 - Meetings of Directors
Section 39 - Assessment; Failure to Pay Assessment
Section 40 - Collection of Assessment
Section 41 - Increase of Capital Stock; Purposes
Section 42 - Corporation Consolidated With One in Another State; Unauthorized Capital Stock Increase
Section 43 - Issue of Preferred Stock
Section 45 - Voting Power of Preferred Stock; Amount of Stock
Section 46 - Offer of Preferred Stock to Common Shareholders
Section 47 - Issue of Shares, Bonds, Notes or Other Evidences of Indebtedness
Section 48 - Approval by Department of Issue
Section 49 - Exchange for Registered Bonds
Section 51 - Default on Mortgage; Contract to Allow Those in Possession to Operate
Section 52 - Trustees in Possession of Railroad; Annual Meeting
Section 53 - Trustees in Possession of Railroad; Election and Confirmation of Trustees
Section 54 - Trustees in Possession of Railroad; Jurisdiction of Supreme Judicial Court
Section 55 - Purchaser Under Foreclosure
Section 56 - Necessity of Payment of Par for Shares; Limit Upon Capital Stock
Section 57 - Liability for Issuing Void Stock
Section 58 - Use of Each Other's Railroad
Section 59 - Service Provided to Other Railroad; Compensation
Section 60 - Rates for Services for Connecting Company
Section 61 - Foreign Railroads' Privilege as Connecting Road
Section 62 - Lease by One Connecting Railroad to the Other
Section 64 - Taking Securities of Other Corporations
Section 65 - Telegraph Company Stock
Section 65a - Holding Stock in Railroad Car and Equipment Companies
Section 66 - Guaranty of Steamship Company Bonds
Section 67 - Associate in Formation of Grain Elevator Corporation
Section 68 - Acquisition, Retention, Sale or Guarantee of Other's Bonds or Notes
Section 69 - Powers of Railroad Corporations; Aid in Construction of Branch or Connecting Railroads
Section 70a - Steamship Companies, Ferries, Ferry Boats, Docks, Motor Vehicles and Aircraft
Section 71 - Prohibition After 1907
Section 72 - Application for Consolidation; Notice; Hearing; Determination
Section 73 - Rates and Facilities of Consolidated Railroads
Section 74 - Violations; Penalties
Section 75 - Determination of Method of Crossing Highways
Section 76 - Estimate of Cost; Subscription for Capital Stock; Certificate of Compliance
Section 77 - Consent to Locate Within Three Miles of State House
Section 78 - Authorized Purchases
Section 79 - Filing of Descriptions With Department
Section 80 - Proceedings to Fix Location of Land
Section 81 - Change of Location
Section 83 - Taking of Land for Purposes Other Than a Railroad
Section 84 - Lands or Rights of Other Railroads
Section 85 - Purposes for Change
Section 86 - Change of Direction
Section 87 - Limitation Upon Tax Exemption
Section 88 - Prescriptive Rights of Adjoining Landholders
Section 89 - Description of Locations of Railroads; Rules and Regulations
Section 90 - Fencing of Railroad Property
Section 91 - Eminent Domain; Order Securing Landowners
Section 92 - Enforcement of Order Securing Landowners
Section 93 - Fences and Gates Along Length of Railroad
Section 93a - Fences Along Railroad Tracks in Cities and Towns
Section 94 - Recovery by Railroad From Person Required to Fence
Section 95 - Grade Separation of Railroad Tracks by Agreement
Section 96 - Consent for One Railroad to Cross Another or to Cross Navigable Water
Section 97 - Highway Crossings; Obstructions; Grade Separations
Section 98 - Over-Passes and Under-Passes; Height
Section 99 - Material Used to Surface Bridges and Approaches
Section 100 - Alteration of Grade of Highway; Decree of County Commissioners; Security
Section 102 - Level Grade Crossing of Highway
Section 103 - Level Grade Crossing; Rails Protected to Enable Easy Passage
Section 104 - Proceedings to Lay Out Public Way Across Railroad
Section 104a - Building, Equipment or Machinery Moving; Duty of Railroad; Reimbursement of Costs
Section 105 - Alteration of Course of Canal
Section 106 - Remedy of Obstruction or for Failure to Repair
Section 107 - Construction and Repair of Bridges, Approaches and Abutments
Section 108 - Jurisdiction of County Commissioners
Section 109 - Separation of Private Land; Order of Commissioners Relative to Crossing
Section 110 - Denial of Access to Private Land; Order for Crossing by Department
Section 111 - Decisions of Commissioners; Appeal
Section 112 - Proceedings Perfecting Appeal
Section 113 - Appeal; Hearing; Department's Powers
Section 114 - Rights of Way Across Tracks by Prescription
Section 115 - Construction; Additional Capital Stock; Certificate of Necessity and Convenience; Fee
Section 116 - Switch Connections With Private Interests
Section 117 - Order for Switch Connection by Department
Section 118 - Certification by Department
Section 121 - Position of Bridge When Not in Use
Section 122 - Passage of Vessels
Section 123 - Signals Indicating Position of Bridge
Section 125 - Precautions Taken by Engineer
Section 126 - Violations; Penalty
Section 127a - Drawbridges; Department; Exemption of Railroad From Compliance With Law
Section 128 - Abandonment of Passenger Station
Section 128a - Discontinuance of Passenger Service; Hearing; Notice; Decision of Department
Section 129 - Relocation of Passenger Stations and Freight Depots
Section 130 - Signs Indicating Way Stations
Section 131 - Compensation for Use of Station, Railroad or Grounds of One Company by Another
Section 133 - Protection of Employees; Blocking of Frogs, Switches and Guard Rails
Section 133a - Switch Stands, Lighting
Section 134a - Distance Between Sets of Tracks, Structures or Obstructions; Exemptions
Section 135 - Stopping of Trains at Grade Crossings
Section 136 - Grade Crossings; Rules and Regulations
Section 137 - Grade Crossings; Interlocking Signals
Section 138 - Warning to Public
Section 138a - Warning Devices at Crossings
Section 139 - Regulation by Department of Use of Warning Devices
Section 140 - Signs Protecting Public Ways
Section 141 - Signs Protecting a Traveled Place
Section 142 - Signs Erected by Municipalities
Section 143 - Signs Erected by Municipality; Duty to Supply
Section 144 - Release of Railroad or Municipality From Duty to Provide Signs
Section 145 - Violations; Penalties
Section 146 - Damaging Warning Signs; Penalty
Section 147 - Gates or Flashing Lights at Crossing of Railroad and Public Way
Section 147a - Reflectorizing of Signs, etc., at Crossings
Section 148 - Failure to Erect Signs or Install Gates or Lights; Penalty
Section 149 - Signals at Crossing of Railroad Above Highway Level
Section 150 - Obstruction of View by Standing Wood; Petition for Removal; Payment for Damages
Section 151 - Obstruction of Public Way by Railroad; Penalty
Section 152 - Reasonable Use of Crossing; Regulation by Department
Section 153 - Type of Power Used to Operate
Section 154 - Brakes and Brakemen
Section 155 - Control of Brakes by Engineer; Inspection
Section 156 - Safety Couplers on Freight Cars
Section 157 - Use of Car Not Equipped With Automatic Couplers
Section 159 - Standard Height of Draw Bars for Freight Cars
Section 160 - Violations; Penalty
Section 161 - Trains Composed of Four-Wheel Cars; Application
Section 162 - Extension of Time for Equipment
Section 163 - Tools and Devices Carried on Trains
Section 163a - Track Motor Cars; Windshield With Cleaning Device and Canopy
Section 163b - Passenger Cars; Safety Windows and Doors
Section 165 - Passenger, Mail or Baggage Car; Heating Devices
Section 166 - Passenger Cars; Illuminating Oil or Fluid
Section 168 - Testing of Locomotive Boilers, Rolling Stock or Other Equipment
Section 169 - Vacuum Brakes; Mufflers
Section 170 - Safety Valves; Mufflers
Section 171 - Failure to Equip With Mufflers; Penalty
Section 172 - Reasonable Passenger Accommodations
Section 172a - Drinking Water and Sanitary Toilet Facilities on Locomotives or Cabooses
Section 173 - Women or Children in Smoking Cars
Section 174 - Drinking Water in Railroad Cars
Section 175 - Failure to Provide Drinking Water; Penalty
Section 176 - Other Necessary Appliances
Section 176a - Track Motor Cars; Lights
Section 178 - Eye Examinations
Section 179 - Engineer; Experience
Section 180 - Conductor; Experience
Section 181 - Violations of Experience Requirements for Engineers and Conductors
Section 182 - Experience of Engineer and Conductor; Exceptions
Section 183 - Penalty for Violation of Experience Requirements for Engineers and Conductors
Section 185 - Change in Number of Train Crew; Regulation by Department
Section 186 - Determination by Railroad; Revision
Section 187 - Reduction of Rates
Section 188 - Extra Charges for Ticket Purchased at Place Other Than Ticket Office
Section 189 - Mileage Tickets; Detaching Coupons
Section 190 - Commutation Tickets
Section 191 - Season Tickets; Extension of Term
Section 192 - Season Tickets; Reimbursement for Additional Fares
Section 193 - Sale of Season Tickets to Express Messengers; Release of Liability for Personal Injury
Section 195 - Baggage Stored Over Week End
Section 196 - Transportation of Bicycles
Section 197 - Cheap Morning and Evening Trains
Section 198 - Workingmen's Trains
Section 198a - Unauthorized Sale at Less Than Full Fare
Section 198b - Unauthorized Sale at Other Than Scheduled Rate
Section 199 - Free Passes or Reduced Rates for Public Officials
Section 200 - Free Passes to Former Employees Injured in Service of Railroad
Section 201 - Required Upon Request
Section 202 - Determination of Compensation
Section 203 - Reopening of Proceedings Determining Compensation
Section 205 - Equal Facilities; Passengers and Property
Section 206 - Application of Sec. 205
Section 207 - Prompt Forwarding
Section 208 - Charges for Transportation of Freight
Section 209 - Violations; Penalties
Section 210 - Freight Differential to Port of Boston
Section 211 - Discrimination in Rates
Section 212 - Complete Service; Equal Tariffs
Section 214 - Violations; Penalty
Section 215 - Approval of Shareholders; Authorization by Department
Section 216 - Certificate of Authorization; Filing; Notice
Section 217 - Rights and Liabilities Under New Name
Section 218 - Standing, Walking or Riding Vehicle on Railroad Property
Section 219 - Loitering in Station
Section 220 - Riding Upon Train Other Than as Fare-Paying Passenger or Employee
Section 221 - Fees for Enforcement of Sec. 220
Section 222 - Riding or Driving Animals on Railroad
Section 223 - Liability for Allowing Animal on Railroad
Section 224 - Liability for Allowing Animal on Railroad
Section 225 - Malicious Injury to Railroad; Treble Damages
Section 226 - Obstruction of Passing of Train
Section 227 - Wilfully Stopping Train
Section 228 - Tampering With Tools or Appliances
Section 229 - Defects in Highway; Liability of City or Town; Recovery From Railroad
Section 231 - Gross Negligence of Person in Control of Train; Penalty
Section 233 - Non-Liability of Railroad for Acts of Expressmen
Section 234 - Liability; Insurance of Railroad and Owner
Section 235a - Clearing of Inflammable Material Along Right of Way
Section 236 - Clearing of Adjoining Land; Notice of Intent to Enter
Section 237 - Warning of Fire Given by Train Crew
Section 238 - Extinguishing Fire
Section 239 - Instruction of Employees
Section 240 - Entry Upon Public Park or Reservation
Section 241 - Expense of Extinguishing Fire; Liability of Railroad
Section 241a - Derailments; Removal of Wreckage and Debris
Section 242 - Content; Inspection; Violations
Section 243 - Quarterly Statement
Section 244 - Lessee to Make Lessor's Returns
Section 245 - Construction; Limitations
Section 246 - Supervisory Powers of Department
Section 247 - Formation; Powers
Section 248 - Agreement of Association
Section 249 - Certificate of Compliance