Mass. Gen. Laws ch. 155 § 7
Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session
Every corporation, except those governed by chapter one hundred and fifty-six, may by its by-laws, except as otherwise expressly provided, determine the manner of calling and conducting its meetings; the number of members which shall constitute a quorum; the number of shares which shall entitle the members to one or more votes; the mode of voting by proxy; the mode of selling shares for the payment of assessments; and the tenure of office of the several officers; and may annex suitable penalties to such by-laws, not exceeding twenty dollars for one offence; but no by-law inconsistent with law shall be made by a corporation.
Mass. Gen. Laws ch. 155, § 7