Massachusetts General Laws
Title XXII - Corporations
Chapter 157a - Employee Cooperative Corporations

Section 1 - Short Title - Section 1. This chapter shall be known and may be...

Section 2 - Definitions - Section 2. As used in this chapter the following words...

Section 3 - Corporations Organized Under Chapter 156d; Election to Be Governed as Employee Cooperative - Section 3. Any corporation organized under chapter 156D may elect...

Section 4 - Revocation of Election - Section 4. An employee cooperative may revoke its election under...

Section 5 - Corporate Name - Section 5. An employee cooperative may include the word ''cooperative''...

Section 6 - Members; Membership Shares; Fees; Rights and Responsibilities - Section 6. (a) The articles of organization or the by-laws...

Section 7 - Voting Shares; By-Laws; Amendment of Articles of Organization - Section 7. (a) No capital stock other than membership shares...

Section 8 - Net Earnings or Losses; Apportionment, Distribution and Payment - Section 8. (a) The net earnings or losses of an...

Section 9 - Internal Capital Accounts; Recall or Redemption of Shares; Interest; Collective Reserve Account - Section 9. (a) Any employee cooperative may establish through its...

Section 10 - Internal Capital Account Cooperatives - Section 10. (a) An internal capital account cooperative is an...

Section 11 - Conversion of Membership Shares and Internal Capital Accounts Upon Revocation of Election; Consolidation or Merger - Section 11. (a) When any employee cooperative revokes its election...