Mass. Gen. Laws ch. 160 § 40
Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session
If a subscriber neglects to pay his assessment for thirty days as provided in the preceding section, the directors may elect to proceed at law against said delinquent subscriber to recover all amounts due and payable by him with interest. If a judgment rendered in an action against a subscriber remains unsatisfied for thirty days, all amounts previously paid by him shall be forfeited to the company and the directors may offer such shares for sale as provided in said section.
Mass. Gen. Laws ch. 160, § 40