Section 5. At any regular meeting, or at any duly called special meeting, at which a majority of its stockholders are present, a corporation formed under section three may authorize the investment if its reserve fund or any part thereof, first, in the building where it is doing business, or, second, in a first mortgage of real estate owned and occupied as a dwelling by any of its stockholders.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 157 - Co-Operative Corporations
Section 1 - Co-Operative Business Corporation
Section 2 - Distribution of Earnings or Profits; Sinking Fund; Limitation Upon Shares Held
Section 3 - Co-Operative Agricultural, Dairy or Mercantile Associations; Name
Section 3b - Direct-Charge Cooperatives
Section 4 - Capital Stock; Powers; By-Laws; Meetings
Section 5 - Investment of Reserve Fund
Section 6 - Apportionment of Earnings
Section 8 - Use of Word Co-Operative in Connection With Other Businesses; Penalty
Section 9 - Fee for Filing Articles of Organization
Section 11 - Powers of Corporations Organized Under Sec. 10
Section 12 - First Meeting; Selection of Directors
Section 13 - Scope of By-Laws; Amendment or Repeal of By-Law
Section 15 - Amendment or Alteration of Articles of Organization
Section 16 - Marketing Contracts Between Corporation and Members
Section 17 - Marketing Contracts; Provisions for Liquidated Damages; Injunction for Breach