General Laws of Massachusetts - Chapter 172 Trust Companies - Section 26 Records and reports of transfers of stock

Section 26. The registrar, transfer agent or other officer or agent of any such corporation having charge of its stockholders’ records or ledger shall, within ten days after recording thereon any transfer of stock of the corporation which makes the transferee the owner of record of ten per cent or more of the outstanding stock with voting power, report such transfer to the commissioner. Any agent or broker holding ten per cent or more of such stock for the benefit of one or more persons shall, upon written request of the commissioner, report to him the names of such persons. Whoever violates this section shall be punished by a fine of not more than five hundred dollars or by imprisonment for not more than six months, or both.

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Last modified: September 11, 2015