Massachusetts General Laws ch. 156A sec. 16 – Merger or consolidation with another corporation
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Section 16. (a) Except as provided in section fourteen, a professional corporation may merge or consolidate with another corporation, domestic or foreign, only if every shareholder of each corporation is a qualified person with respect to the surviving or resulting corporation.
Terms Used In Massachusetts General Laws ch. 156A sec. 16
- 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.
(b) Upon the merger or consolidation of a professional corporation, if the surviving or resulting corporation is to render professional services in the commonwealth, it shall comply with the provisions of this chapter.