Section 5. An existing corporation organized under chapter 156A or chapter 156D may elect to become a benefit corporation by amending its articles of organization to include a statement that the corporation is a benefit corporation. In order to be effective, the amendment shall be adopted by at least the minimum status vote. Such amendment shall be treated as an amendment of the articles under clause (4) of subsection (a) of section 13.02 of said chapter 156D and the shareholders of the corporation shall be entitled to appraisal rights under sections 13.01 to 13.31, inclusive, of said chapter 156D.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 156e - Benefit Corporations
Section 4 - Organization of Benefit Corporation
Section 5 - Election by Existing Corporation to Convert to Benefit Corporation
Section 6 - Termination of Status as Benefit Corporation
Section 8 - Creation for Benefit Corporation Resulting From Merger, Share Exchange or Conversion
Section 9 - General Public Benefit; Specific Public Benefit
Section 13 - Benefit Officer; Powers and Duties
Section 14 - Benefit Enforcement Proceeding