Section 18: Consideration for issuance of stock
63 words·~1 min read·
/ma/part-i/title-xxii/chapter-156b/18·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 18. Capital stock may be issued for cash, tangible or intangible property, services, or for a debt, note or expenses. Stock having par value shall not be issued for cash, property, services or expenses worth less than the par value. For the purpose of the second sentence, a debt or note of the purchaser secured or unsecured shall not be considered property.