Section 18. The business of every corporation shall be managed and conducted by a president, a board of not less than three directors, a clerk, treasurer and such other officers and agents as the corporation authorizes for that purpose. The directors shall choose one of their number as president.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 158 - Certain Miscellaneous Corporations
Section 1 - Application of Chapter; Secretary Defined
Section 3 - Corporations Formed to Furnish Steam, Hot Water, or Hydrostatic or Pneumatic Pressure
Section 4 - Number of Incorporators; Capital
Section 5 - Contents of Agreement of Association
Section 7 - Subscribers to Hold Franchise; Distribution of Shares
Section 9 - Submission of Details of Organization to Secretary; Approval; Certificate
Section 10 - Business Powers of Corporation
Section 11 - Alteration, Addition to or Change of Business
Section 12 - Digging Up or Opening Streets or Highways; Qualified Corporations
Section 13 - Highway Defects Caused by Corporation; Liability
Section 14 - Pipes or Conductors in Street; Regulation by Municipality
Section 15 - Corporations for Introduction and Propagation of Herrings and Alewives; Local Permit
Section 17 - Safe Deposit Boxes; Definitions; Insurance Notice; Overdue Rentals; Affidavit
Section 18 - Management by Officers; Selection of President
Section 19 - Selection of Directors, Clerk, Treasurer and Other Agents and Officers; Term
Section 20 - Clerk's Duties; Treasurer's Bond
Section 21 - Entitlement to Stock Certificates
Section 22 - Lost Certificates
Section 23 - Special Charter Corporations; Fixing and Limiting of Capital Stock
Section 24 - Increase or Reduction of Capital Stock
Section 26 - Employees' Stock; Issuance
Section 27 - Employees' Stock; Dividends
Section 28 - Employees' Stock; Transfer; Redemption; Limitation Upon Number of Shares
Section 29 - Assessment Upon Shares
Section 30 - Failure to Pay Assessment; Sale of Shares
Section 31 - Notice of Sale; Transfer of Shares Sold
Section 32 - Commencement of Business; Payment of Capital Stock
Section 33 - Payment for Capital Stock
Section 36 - Correction of Defective Proceedings; Procedure
Section 37 - Annual Certificate of Condition
Section 38 - Failure to File Annual Certificate; Dissolution
Section 39 - Certificate of Increase of Capital Stock; Filing
Section 40 - Certificate of Reduction of Capital Stock; Filing
Section 41 - Submission of Certificate to Secretary; Approval; Filing; Fee
Section 42 - Penalties for Omitting to File Certificates
Section 44 - Officers; Liability for Debts and Contracts
Section 45 - Members or Stockholders; Liability for Debts and Contracts
Section 46 - Conditions to Liability
Section 47 - Right of Judgment Creditor to Officer and Shareholder List
Section 48 - Refusal to Give List; False List; Penalty
Section 49 - Bill in Equity Against Officers and Stockholders
Section 50 - Proportionate Assessment of Shareholders
Section 51 - Death of a Defendant
Section 52 - Dismissal; Notice
Section 53 - Non-Joinder of Parties; Abatement
Section 54 - Defense by Officer or Stockholder of Action Against Corporation