Section 12. A cooperative corporation may terminate all of its proprietary leases, but only by agreement of proprietary lessees holding at least 80 per cent of its stock or any larger percentage the specified in the articles or by-laws.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 157b - Cooperative Housing Corporations
Section 1 - Purpose of Chapter
Section 2 - Application of Chapter; Amendment of Articles of Incorporation to Comply With Chapter
Section 3 - Cooperative Corporations Subject to Certain Laws
Section 5 - Application of Laws; Conflict of Laws
Section 6 - Articles of Organization
Section 8 - Name; Forfeiture; Judicial Action
Section 9 - Power to Make, Amend or Repeal By-Laws
Section 10 - Articles or By-Laws
Section 11 - Net Savings; Apportionment