Section 23: Manufacturing corporations; election of directors by employees
118 words·~1 min read·
/ma/part-i/title-xxii/chapter-156/23·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 23. A manufacturing corporation may provide by by-law for the nomination and election by its employees of one or more of them as members of its board of directors. All such elections shall be held at the works of the corporation on the day of the annual meeting, and the voting shall be by secret ballot. If less than a majority of those entitled to vote participate in the election there shall be no election, and the vacancy shall be filled as provided in the preceding section. A director elected by the employees shall have the same rights and powers and shall be subject to the same duties and responsibilities as a director elected by the stockholders.