§ 10 — Business powers of corporation

Massachusetts § 10

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XXII: CORPORATIONS
• Ch. 158: CERTAIN MISCELLANEOUS CORPORATIONS

Text

Section 10. A corporation may in its corporate name purchase, hold and convey real and personal property necessary for the purposes of its organization; may carry on its business, or so much thereof as is convenient, beyond the limits of this commonwealth, and may there purchase and hold real or personal property necessary for conducting its business; but it shall not direct its operations or appropriate its funds to any other purpose than that specified in its agreement of association or its charter, as the case may be, except as provided in the following section and in sections twenty-two and twenty-three of chapter one hundred and sixty-four. No conveyance or mortgage of its real property, or lease thereof for more than one year, shall be made unless authorized by a vote of the stockholders at a meeting called for the purpose.