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13 sections in this chapter.
Mass. Gen. Laws ch. 157B, § 1 Purpose of chapter
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Section 1. The purpose of this chapter is to foster safe, decent and affordable housing in the commonwealth by enabling individuals to form cooperative corporations for the purpose of developing, acquiring, owning, and operating multi-family housing on a cooperative plan.
Mass. Gen. Laws ch. 157B, § 10 Articles or by-laws
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Section 10. The articles or by-laws may provide: (a) for election of directors and other officials by unit or district; (b) for voting by stockholders on the basis of one vote per member or one vote per dwelling unit rather than one vote per share; (c) that any action required or…
Mass. Gen. Laws ch. 157B, § 11 Net savings; apportionment
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Section 11. At least once a year the board of every cooperative corporation shall, after first setting aside an adequate portion of the net savings in a reserve fund for the general operation of the business, apportion the remainder of the net savings in one or more of the follow…
Mass. Gen. Laws ch. 157B, § 12 Termination of proprietary leases
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Section 12. A cooperative corporation may terminate all of its proprietary leases, but only by agreement of proprietary lessees holding at least 80 per cent of its stock or any larger percentage the specified in the articles or by-laws.
