There is a newer version
of
this Section
2018 Massachusetts General Laws
PART I ADMINISTRATION OF THE GOVERNMENT
TITLE XXII CORPORATIONS
Chapter 157 CO-OPERATIVE CORPORATIONS
Section 5 Investment of reserve fund
Universal Citation: MA Gen L ch 157 § 5 (2018)
Section 5. At any regular meeting, or at any duly called special meeting, at which a majority of its stockholders are present, a corporation formed under section three may authorize the investment if its reserve fund or any part thereof, first, in the building where it is doing business, or, second, in a first mortgage of real estate owned and occupied as a dwelling by any of its stockholders.
Disclaimer: These codes may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.