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Statutes > Massachusetts Statutes > PART I ADMINISTRATION OF THE GOVERNMENT > TITLE XXII CORPORATIONS > CHAPTER 157A EMPLOYEE COOPERATIVE CORPORATIONS

CHAPTER 157A EMPLOYEE COOPERATIVE CORPORATIONS

  • Section 1 Short title
  • Section 2 Definitions
  • Section 3 Corporations organized under chapter 156D; election to be governed as employee cooperative
  • Section 4 Revocation of election
  • Section 5 Corporate name
  • Section 6 Members; membership shares; fees; rights and responsibilities
  • Section 7 Voting shares; by-laws; amendment of articles of organization
  • Section 8 Net earnings or losses; apportionment, distribution and payment
  • Section 9 Internal capital accounts; recall or redemption of shares; interest; collective reserve account
  • Section 10 Internal capital account cooperatives
  • Section 11 Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger




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