Section 10. If a society fails to secure its certificate of incorporation and to begin business within one year after the date of receiving the certificate of the commissioner, as provided in section 7, its agreement of association and all proceedings thereunder shall become null and void. If a domestic corporation subject to this chapter ceases to do business for the period of one year, its charter or certificate of incorporation shall become null and void.

Terms Used In Massachusetts General Laws ch. 176P sec. 10

  • 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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