Mass. Gen. Laws » Part I Title XXII Chapter 158
Massachusetts General Laws

Mass. Gen. Laws ch. 158, § 49 (2026)

Bill in equity against officers and stockholders

✓ current as of July 2026
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Section 49. After the execution has been returned unsatisfied, any creditor may file a bill in equity, in behalf of himself and all other creditors of the corporation, against it and all persons who were stockholders therein at the time of the commencement of the suit in which such judgment was recovered, or against all the officers who are liable for its debts and contracts, for the recovery of the money due from the corporation to himself and the other creditors for which the stockholders or officers may be personally liable by reason of any act or omission on the part of the corporation or that of its officers or any of them, setting forth the judgment and proceedings thereon, and the grounds upon which it is expected to charge the stockholders or officers personally.

Notes of Decisions
Cited in 2 cases, 1924–1924 · leading case: Comm'r of Banks v. Cosmopolitan Trust Co., 142 N.E. 100 (Mass. 1924).
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Comm'r of Banks v. Cosmopolitan Trust Co., 142 N.E. 100 (Mass. 1924). · cites it 2× “The allegations are adapted to his duties and the liabilities which he may enforce.”
Comm'r of Banks v. Hanover Trust Co., 142 N.E. 105 (Mass. 1924). “It is provided in G. L. c. 158, § 49, that suits by creditors to enforce stockholders’ liability shall be against “ persons who were stockholders .”
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