Section 16. No corporation subject to this chapter shall pay any salary, compensation or emolument to any officer, trustee or director thereof, nor shall any such corporation pay any salary, compensation or emolument, amounting in any year to more than five thousand dollars, to any person, unless such payment be first authorized by a vote of its board of directors. No corporation subject to this chapter shall make any agreement with any of its officers, trustees or employees whereby it agrees that for any services rendered or to be rendered he shall receive any salary, compensation or emolument for a period of more than three years from the date of such agreement.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 176c - Non-Profit Medical Service Plans
Section 3 - Incorporators; Approval of Certificate of Organization; Board of Directors
Section 4 - Contracts to Provide Medical Service
Section 6 - Associated Physician; Grounds for Termination of Agreement
Section 7 - Subscribers; Choice of Physician
Section 8 - Form and Content of Subscription Agreement
Section 9 - Annual Statement; Verification; Content; Violations
Section 11 - Depositary for Funds
Section 12 - Submission of Disputes; Review of Determination
Section 13 - Grounds for Enjoining Transaction of Business; Receivers; Distribution of Funds
Section 14 - Tax Exemption; Liability
Section 15 - Excise Tax; Violation
Section 16 - Salaries, Compensation or Emoluments
Section 16a - Pay-Roll Deductions for Governmental Employees
Section 17 - Right of Organization to Provide Medical Services