Section 21: Management of corporation
98 words·~1 min read·
/ma/part-i/title-xxii/chapter-156/21·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 21. The business of every corporation shall be managed and conducted by a president, a board of not less than three directors, a clerk, a treasurer and such other officers and such agents as the corporation by its by-laws shall authorize. The treasurer may be required to give a bond for the faithful performance of his duty in such sum and with such sureties as the by-laws may prescribe. The clerk, who shall be a resident of the commonwealth, shall be sworn and shall record all votes of the corporation in a book to be kept therefor.