Section 3: Formation of corporation; selection of officers; certification of organization
238 words·~1 min read·
/ma/part-i/title-xxii/chapter-179/3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 3. At such meeting, by vote of a majority in number and interest of all of the proprietors, they may organize themselves as a corporation under this chapter; and they may thereupon choose a clerk, treasurer, collector and such committees and other officers as they deem necessary for the management of their affairs, and may agree upon and direct the manner of calling future meetings. Each officer chosen shall hold his office until his successor is qualified. The clerk, treasurer and collector shall forthwith make, sign and swear to a certificate setting forth the name of the corporation, its purpose, the town and county where it is located, the date of the meeting for organization and any adjournments thereof, and any other facts of importance contained in the proceedings of organization.
The certificate and the record of the meeting, including any by-laws, shall be submitted to the state secretary, who shall examine them and who may require such amendments thereof or such additional information as he deems necessary. If he finds that the provisions of law relative to the organization of the corporation have been complied with, he shall endorse his approval on the certificate. The certificate shall, upon payment of a fee to be determined annually by the commissioner of administration under the provision of section three B of chapter seven, be filed in the office of the state secretary; otherwise, the organization shall be void.