Massachusetts General Laws

Mass. Gen. Laws ch. 155, § 17 (2026)

Issue at less than par

✓ current as of July 2026

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Section 17. No corporation shall issue a share for a less amount to be actually paid in thereon than the par value of the shares at the date of issue.

Notes of Decisions

Cited in 2 cases, 1927–1928 · leading case: Boucher v. Hamilton Mfg. Co., 156 N.E. 424 (Mass. 1927).

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Boucher v. Hamilton Mfg. Co., 156 N.E. 424 (Mass. 1927). “G. L. c. 155, § 17; c. 156, §§ 14, 15. Nevertheless, the assurance of so substantial a subscription to the stock of the new corporation is of immediate advantage to all concerned.”

Mitchell v. Mitchell, Woodbury Co., 160 N.E. 539 (Mass. 1928). “In the case at bar the requirement of G. L. c. 155, § 17, that no corporation shall issue a share for a less amount to be actually paid in thereon than the par value of the shares at the date of issue, was complied with.”

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