Massachusetts General Laws ch. 156B sec. 16 – Scope of by-laws
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Section 16. A corporation may make by-laws which may contain any provisions not inconsistent with law or the articles of organization for the regulation and management of the affairs of the corporation. Whenever any section of this chapter refers to the by-laws, a provision included in the articles of organization shall be treated, for the purposes of such section, as if it had been included in the by-laws.
Terms Used In Massachusetts General Laws ch. 156B 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.