Section 3. A corporation organized pursuant to this chapter prior to January 1, 1955 shall be subject to this chapter and chapters 167C to 167G, inclusive, chapter 167I and chapter 167J so far as is consistent with its charter, and may, by vote of its corporators at its annual meeting or at a meeting called for the purpose, accept any provision of this chapter, which is inconsistent with its charter. Any such corporation organized after January 1, 1955, shall be subject to this chapter, chapters 167C to 167G, inclusive, chapter 167I and chapter 167J.

Terms Used In Massachusetts General Laws ch. 168 sec. 3

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
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