Massachusetts General Laws ch. 156 sec. 7 – Corporations dealing with real estate; duration
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Section 7. The agreement of association of any corporation formed for the purpose of acquiring, holding, managing, improving, leasing, buying and selling real estate, except a corporation formed for the purpose of owning forest land classified under chapter sixty-one, shall state the term of duration of the corporation, which shall not exceed fifty years.
Terms Used In Massachusetts General Laws ch. 156 sec. 7
- 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.