An officer, agent, clerk or servant of a corporation, or any other person, who issues or signs with intent to issue a certificate of stock in a corporation, or who issues, signs or endorses with intent to issue, a bond, note, bill or other obligation or security in the name of such corporation, beyond the amount authorized by law or limited by the legal votes of such corporation or its proper officers, or negotiates, transfers or disposes of such certificate with intent to defraud, shall be punished by imprisonment in the state prison for not more than ten years or in the house of correction for not more than one year.
Massachusetts Legal Code