Section 11: Officers; duties
237 words·~1 min read·
/ma/part-i/title-xxii/chapter-176a/11·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 11. The president, vice-president, if any, the secretary, assistant secretary, if any, the treasurer, and assistant treasurer, if any, shall be annually sworn and their oaths entered of record in the books of the non-profit hospital service corporation.
Each director shall file with the secretary a written acceptance of the trust before he is qualified to act.
The secretary, the treasurer, and each assistant secretary and each assistant treasurer, if any, of such a corporation shall, before entering upon his duties, give a bond payable to the corporation, conditioned upon the faithful performance of his duties. The bond shall be executed as surety by a surety company authorized to transact business in the commonwealth, and shall be in a form satisfactory to the commissioner of insurance and in such penal sum as the commissioner shall prescribe.
If the authority of any such surety company to transact business in the commonwealth is terminated, each officer bonded as aforesaid by such surety company shall forthwith execute a new bond in compliance with this section.
The secretary shall keep a record of the attendance, the votes taken and the manner in which each director votes, and of all other proceedings of all meetings of the directors and subscribers, and such other books and records as the president and directors may require. The records so kept shall be evidence of all elections and of the transactions to which they relate.