Massachusetts General Laws ch. 157 sec. 15 – Amendment or alteration of articles of organization
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Section 15. Any such corporation may amend or alter its articles of organization in the manner provided by sections seventy to seventy-two, inclusive, of chapter one hundred and fifty-six B, so far as applicable; provided, that such amendment or alteration shall require a vote of three-fourths of the members present and voting at a meeting of the corporation called to consider such amendment or alteration, or if the vote upon such amendment or alteration is taken by mail, by vote of three-fourths of the members who return votes. A vote by mail upon such amendment or alteration shall not be valid unless votes are returned by at least three fifths of the members of the corporation.
Terms Used In Massachusetts General Laws ch. 157 sec. 15
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.