Massachusetts General Laws
Chapter 156d - Business Corporations
Section 7.40 - Subdivision Definitions

Section 7.40. SUBDIVISION DEFINITIONS
In this SUBDIVISION the following words shall have the following meanings unless the context requires otherwise:
''Derivative proceeding'', a civil suit in the right of a domestic corporation or, to the extent provided in section 7.47, in the right of a foreign corporation.
''Shareholder'' includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the beneficial owner's behalf.

Structure Massachusetts General Laws

Massachusetts General Laws

Part I - Administration of the Government

Title XXII - Corporations

Chapter 156d - Business Corporations

Section 1.01 - Short Title

Section 1.02 - Reservation of Power to Amend or Repeal

Section 1.20 - Filing Requirements

Section 1.21 - Forms

Section 1.22 - Filing, Service and Copying Fees

Section 1.23 - Effective Time and Date of Document

Section 1.24 - Correcting Filed Document

Section 1.25 - Filing Duty of Secretary of State

Section 1.26 - Appeal From Secretary of State's Refusal to File Document

Section 1.27 - Evidentiary Effect of Copy of Filed Document

Section 1.28 - Certificates Regarding Corporations

Section 1.29 - Penalty for Signing False Document

Section 1.30 - Powers

Section 1.40 - Chapter Definitions

Section 1.41 - Notice

Section 1.42 - Number of Shareholders

Section 1.50 - Interpretation of Chapter

Section 2.01 - Incorporators

Section 2.02 - Articles of Organization

Section 2.03 - Incorporation

Section 2.04 - Liability for Pre-Incorporation Transactions

Section 2.05 - Organization of Corporation

Section 2.06 - Bylaws

Section 2.07 - Emergency Bylaws

Section 3.01 - Purposes

Section 3.02 - General Powers

Section 3.03 - Emergency Powers

Section 3.04 - Ultra Vires

Section 4.01 - Corporate Name

Section 4.02 - Reserved Name

Section 5.01 - Registered Office and Registered Agent

Section 5.02 - Change of Registered Office or Registered Agent

Section 5.03 - Resignation of Registered Agent

Section 5.04 - Service on Corporation

Section 6.01 - Authorized Shares

Section 6.02 - Determination of Terms of Class or Series

Section 6.03 - Issued and Outstanding Shares

Section 6.04 - Fractional Shares

Section 6.20 - Subscription for Shares Before Incorporation

Section 6.21 - Issuance of Shares

Section 6.22 - Liability of Shareholders

Section 6.23 - Share Dividends

Section 6.24 - Share Options

Section 6.25 - Form and Content of Certificates

Section 6.26 - Shares Without Certificates

Section 6.27 - Restriction on Transfer of Shares and Other Securities

Section 6.30 - Shareholders' Preemptive Rights

Section 6.31 - Corporation's Acquisition of Its Own Shares

Section 6.40 - Distributions to Shareholders

Section 6.41 - Liability for Improper Distributions

Section 7.01 - Annual Meeting

Section 7.02 - Special Meeting

Section 7.03 - Court-Ordered Meeting

Section 7.04 - Action Without Meeting

Section 7.05 - Notice of Meeting

Section 7.06 - Waiver of Notice

Section 7.07 - Record Date

Section 7.08 - Meetings by Remote Communications; Remote Participation in Meetings

Section 7.20 - Shareholders List for Meeting

Section 7.21 - Voting Entitlement of Shares

Section 7.22 - Proxies

Section 7.23 - Shares Held by Nominees

Section 7.24 - Corporation's Acceptance of Votes

Section 7.25 - Quorum and Voting Requirements for Voting Groups

Section 7.26 - Action by Single and Multiple Voting Groups

Section 7.27 - Greater or Lesser Quorum or Voting Requirements for Shareholders

Section 7.28 - Voting for Directors; Cumulative Voting

Section 7.29 - Form of Shareholder Action

Section 7.30 - Voting Trusts

Section 7.31 - Voting Agreements

Section 7.32 - Shareholder Agreements

Section 7.40 - Subdivision Definitions

Section 7.41 - Standing

Section 7.42 - Demand

Section 7.43 - Stay of Proceedings

Section 7.44 - Dismissal

Section 7.45 - Discontinuance or Settlement

Section 7.46 - Payment of Expenses

Section 7.47 - Applicability to Foreign Corporations

Section 8.01 - Requirement for and Duties of Board of Directors

Section 8.02 - Qualifications of Directors

Section 8.03 - Number and Election of Directors

Section 8.04 - Election of Directors by Certain Classes of Shareholders

Section 8.05 - Terms of Directors Generally

Section 8.06 - Staggered Terms for Directors

Section 8.07 - Resignation of Directors

Section 8.08 - Removal of Directors

Section 8.10 - Vacancy on Board

Section 8.11 - Compensation of Directors

Section 8.20 - Meetings

Section 8.21 - Action Without Meeting

Section 8.22 - Notice of Meeting

Section 8.23 - Waiver of Notice

Section 8.24 - Quorum and Voting

Section 8.25 - Committees

Section 8.30 - General Standards for Directors

Section 8.31 - Director Conflict of Interest

Section 8.32 - Loans to Directors

Section 8.40 - Required Officers

Section 8.41 - Duties of Officers

Section 8.42 - Standards of Conduct for Officers

Section 8.43 - Resignation and Removal of Officers

Section 8.44 - Contract Rights of Officers

Section 8.45 - Certificate of Change in Officers or Directors

Section 8.46 - Instruments Affecting Real Estate

Section 8.50 - Subdivision Definitions

Section 8.51 - Permissible Indemnification

Section 8.52 - Mandatory Indemnification

Section 8.53 - Advance for Expenses

Section 8.54 - Court-Ordered Indemnification and Advance for Expenses

Section 8.55 - Determination and Authorization of Indemnification

Section 8.56 - Officers

Section 8.57 - Insurance

Section 8.58 - Variation by Corporate Action; Application of Subchapter

Section 8.59 - Exclusivity of Subdivision

Section 9.20 - Domestication

Section 9.21 - Action on a Plan of Domestication

Section 9.22 - Articles of Domestication

Section 9.23 - Surrender of Charter Upon Domestication

Section 9.24 - Effect of Domestication

Section 9.25 - Abandonment of a Domestication

Section 9.30 - Nonprofit Conversion

Section 9.31 - Action on a Plan of Nonprofit Conversion

Section 9.32 - Articles of Nonprofit Conversion

Section 9.33 - Surrender of Charter Upon Foreign Nonprofit Conversion

Section 9.34 - Effect of Nonprofit Conversion

Section 9.35 - Abandonment of a Nonprofit Conversion

Section 9.40 - Foreign Nonprofit Domestication and Conversion

Section 9.41 - Articles of Domestication and Conversion

Section 9.42 - Effect of Foreign Nonprofit Domestication and Conversion

Section 9.43 - Abandonment of a Foreign Nonprofit Domestication and Conversion

Section 9.50 - Entity Conversion Authorized; Definitions

Section 9.51 - Plan of Entity Conversion

Section 9.52 - Action on a Plan of Entity Conversion

Section 9.53 - Articles of Entity Conversion

Section 9.54 - Surrender of Charter Upon Conversion

Section 9.55 - Effect of Entity Conversion

Section 9.56 - Abandonment of an Entity Conversion

Section 10.01 - Authority to Amend

Section 10.02 - Amendment Before Issuance of Shares

Section 10.03 - Amendment by Board of Directors and Shareholders; Exception

Section 10.04 - Voting on Amendments by Voting Groups

Section 10.05 - Amendment by Board of Directors

Section 10.06 - Articles of Amendment

Section 10.07 - Restated Articles of Organization

Section 10.08 - Effect of Amendment

Section 10.20 - Amendment by Board of Directors or Shareholders

Section 10.21 - Bylaw Dealing With Quorum or Voting Requirements for Shareholders

Section 10.22 - Bylaw Dealing With Quorum or Voting Requirements for Board of Directors

Section 11.01 - Definitions

Section 11.02 - Merger

Section 11.03 - Share Exchange

Section 11.04 - Action on a Plan of Merger or Share Exchange

Section 11.05 - Merger Between Parent and Subsidiary or Between Subsidiaries

Section 11.06 - Articles of Merger or Share Exchange

Section 11.07 - Effect of Merger or Share Exchange

Section 11.08 - Abandonment of a Merger or Share Exchange

Section 12.01 - Sale of Assets in Regular Course of Business and Mortgage of Assets

Section 12.02 - Sale of Assets Other Than in Regular Course of Business

Section 13.01 - Definitions

Section 13.02 - Right to Appraisal

Section 13.03 - Assertion of Rights by Nominees and Beneficial Owners

Section 13.20 - Notice of Appraisal Rights

Section 13.21 - Notice of Intent to Demand Payment

Section 13.22 - Appraisal Notice and Form

Section 13.23 - Perfection of Rights; Right to Withdraw

Section 13.24 - Payment

Section 13.25 - After-Acquired Shares

Section 13.26 - Procedure if Shareholder Dissatisfied With Payment or Offer

Section 13.30 - Court Action

Section 13.31 - Court Costs and Counsel Fees

Section 14.01 - Dissolution by Incorporators or Initial Directors

Section 14.02 - Dissolution by Board of Directors and Shareholders, or Otherwise in Accordance With Articles of Organization

Section 14.03 - Articles of Dissolution

Section 14.04 - Revocation of Dissolution

Section 14.05 - Effect of Dissolution

Section 14.06 - Known Non-Contingent Claims Against Dissolved Corporation

Section 14.07 - Unknown Claims Against Dissolved Corporation

Section 14.08 - Creation of Reserves as Adequate Provision for Unasserted Product Liability Claims and Known Contingent Claims Against Dissolved Corporation

Section 14.09 - Enforcement of Claims Against Dissolved Corporation

Section 14.20 - Grounds for Administrative Dissolution

Section 14.21 - Procedure for and Effect of Administrative Dissolution

Section 14.22 - Reinstatement Following Administrative Dissolution

Section 14.23 - Appeal From Denial of Reinstatement

Section 14.30 - Grounds for Judicial Dissolution

Section 14.31 - Procedure for Judicial Dissolution

Section 14.32 - Receivership or Custodianship

Section 14.33 - Decree of Dissolution

Section 14.34 - Reorganization Under a Statute of the United States; Effectuation

Section 14.40 - Deposit With Treasurer of the Commonwealth

Section 15.01 - Authority to Transact Business Required

Section 15.02 - Consequences of Transacting Business Without Authority

Section 15.03 - Delivering Certificate by Foreign Corporation

Section 15.04 - Amended Certificate

Section 15.05 - Effect of Filing of Certificate

Section 15.06 - Corporate Name of Foreign Corporation

Section 15.07 - Registered Office and Registered Agent of Foreign Corporation

Section 15.08 - Change of Registered Office or Registered Agent of Foreign Corporation

Section 15.09 - Resignation of Registered Agent of Foreign Corporation

Section 15.10 - Liability to Be Sued; Service on Foreign Corporation

Section 15.11 - False Reports or Statements

Section 15.20 - Withdrawal of Foreign Corporation

Section 15.21 - Automatic Withdrawal Upon Certain Conversions

Section 15.22 - Withdrawal Upon Conversion to a Nonfiling Entity

Section 15.23 - Transfer of Authority

Section 15.30 - Grounds for Revocation

Section 15.31 - Procedure for and Effect of Revocation

Section 15.32 - Appeal From Revocation

Section 16.01 - Corporate Records

Section 16.02 - Inspection of Records by Shareholders

Section 16.03 - Scope of Inspection Right

Section 16.04 - Court-Ordered Inspection

Section 16.05 - Inspection of Records by Directors

Section 16.06 - Exception to Notice Requirement; Consequences of Inability to Deliver Notice

Section 16.20 - Financial Statement for Shareholders

Section 16.21 - By-Law Amendments

Section 16.22 - Annual Report for Secretary of State

Section 17.01 - Application to Existing Domestic Corporations

Section 17.02 - Application to Qualified Foreign Corporations

Section 17.03 - Saving Provisions

Section 17.04 - Severability