Section 16: Adoption of by-laws; regulations controlling assignment and transfer of shares; quorum
72 words·~1 min read·
/ma/part-i/title-xxii/chapter-170/16·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 16. Such corporation may adopt by-laws for the proper management of its affairs and as appropriate to exercise all powers necessary, convenient or incidental to the purposes for which the corporation was formed. The corporation may establish regulations controlling the assignment and transfer of its shares. A majority in interest of the stockholders entitled to vote shall constitute a quorum at any meeting unless the by-laws require more than a majority.