reglab/housing_qa huggingface dataset:
MA Gen L ch 156e § 14 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 156e - Benefit Corporations|Section 14 - Benefit Enforcement Proceeding

Section 14. (a)(1) The duties under this chapter and the general public benefit purpose and any specific public benefit purpose of a benefit corporation may be enforced only in a benefit enforcement proceeding.  (2) Except in a benefit enforcement proceeding, no person shall bring an action or assert a claim against a benefit corporation or its directors or officers with respect to:  (i) failure to pursue or create general or specific public benefits set forth in its articles; or  (ii) a violation of a duty or standard of conduct under this chapter.  (3) A benefit corporation shall not be liable for monetary damages under this chapter for any failure of the benefit corporation to pursue or create a general public benefit or a specific public benefit.  (b) A benefit enforcement proceeding shall be commenced or maintained only:  (1) directly by the benefit corporation; or  (2) derivatively by:  (i) a shareholder;  (ii) a director;  (iii) a person or group of persons that owns beneficially or of record 5 per cent or more of the equity interests in an association of which the benefit corporation is a subsidiary; or  (iv) other persons as specified in the articles of organization, bylaws or shareholder agreement of the benefit corporation.
MA Gen L ch 156e § 15 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 156e - Benefit Corporations|Section 15 - Annual Benefit Report

Section 15. (a) A benefit corporation shall prepare an annual benefit report, including all of the following information:  (1) a narrative description of:  (i) the ways in which the benefit corporation pursued a general public benefit during the year and the extent to which general public benefit was created;  (ii) the ways in which the benefit corporation pursued a specific public benefit that the articles of organization state it is the purpose of the benefit corporation to create and the extent to which that specific public benefit was created;  (iii) any circumstances that have hindered the creation by the benefit corporation of general public benefit or specific public benefit; and  (iv) the process and rationale for selecting or changing the third-party standard used to prepare the benefit report;  (2) an assessment of the overall social and environmental performance of the benefit corporation against a third-party standard:  (i) applied consistently with any application of that standard in prior benefit reports; or  (ii) accompanied by an explanation of the reasons for any inconsistent application;  (3) the name of the benefit director and the benefit officer, if any, and the address to which correspondence to each of them may be directed;  (4) the compensation paid by the benefit corporation during the year to each director in the capacity of a director;  (5) the name of each person that owns 5 per cent or more of the outstanding shares of the benefit corporation either: (i) of record; or (ii) beneficially, to the extent known to the benefit corporation without investigation;  (6) the statement of the benefit director described in subsection (c) of section 11;  (7) a statement of any connection between the organization that established the third-party standard, or its directors, officers or any holder of 5 per cent or more of the governance interests in the organization, and the benefit corporation or its directors, officers or any holder of 5 per cent or more of the outstanding shares of the benefit corporation, including any financial or governance relationship which might materially affect the credibility of the use of the third-party standard; and  (8) if the benefit corporation has dispensed with, or restricted the discretion or powers of, the board of directors, a description of:  (i) the persons that exercise the powers, duties and rights and who have the immunities of the board of directors; and  (ii) the benefit director, as required by subsection (d) of section 11.  (b) Nothing in this chapter shall require the benefit report or the assessment of the performance of the benefit corporation in the benefit report required by clause (2) of subsection (a) to be audited or certified by a third party standards provider.
MA Gen L ch 156e § 16 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 156e - Benefit Corporations|Section 16 - Timing of Annual Benefit Report Sent to Shareholders; Posting on Website; Copy to State Secretary

Section 16. (a) The annual benefit report shall be sent to each shareholder at the same time that the benefit corporation delivers any other annual report to its shareholders, or within 120 days following the end of the fiscal year of the benefit corporation.  (b) A benefit corporation shall post its most recent annual benefit report on the public portion of its website, if any, but the compensation paid to directors and financial, confidential or proprietary information included in the benefit report may be omitted from the benefit report as posted.  (c) If a benefit corporation does not have a website, the benefit corporation shall provide a copy of its most recent benefit report, without charge, to any person that requests a copy, but the compensation paid to directors and financial or proprietary information included in the benefit report may be omitted from the copy of the benefit report provided.  (d) The benefit corporation shall deliver a copy of the benefit report to the state secretary with its annual report required by section 16.22 of chapter 156D, but the compensation paid to directors and financial, confidential or proprietary information included in the benefit report may be omitted from the benefit report as filed. The state secretary shall charge a fee of $75 for filing a benefit report in addition to the fee required for the annual report.
MA Gen L ch 157 § 1 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 1 - Co-Operative Business Corporation

Section 1. A corporation may be organized under chapter one hundred and fifty-six B, with shares having par value, for the purpose of co-operation in carrying on any business or of co-operative trade.
MA Gen L ch 157 § 2 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 2 - Distribution of Earnings or Profits; Sinking Fund; Limitation Upon Shares Held

Section 2. Such corporation shall distribute its earnings or profits among its workmen, purchasers and stockholders at such times and in such manner as its by-laws prescribe, but at least once in every twelve months. No distribution shall be made, unless at least ten per cent of the net profits have been appropriated for a contingent or sinking fund, until an amount has accumulated equal to thirty per cent of its capital stock issued and outstanding. No person shall hold shares in any such corporation to an amount exceeding one thousand dollars at their par value, nor shall a stockholder be entitled to more than one vote upon any subject.
MA Gen L ch 157 § 3 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 3 - Co-Operative Agricultural, Dairy or Mercantile Associations; Name

Section 3. Seven or more persons, residents of the commonwealth, may associate themselves as a corporation, association, society, company or exchange, to conduct within the commonwealth any agricultural, dairy or mercantile business on the co-operative plan. The word ''co-operative'' shall form a part of the name of the corporation, and, for the purposes of this and sections three A to nine, inclusive, the words ''association'', ''company'', ''exchange'', ''society'' and ''union'', shall have the same signification and shall import a corporation. The corporation shall be formed as provided in chapter one hundred and fifty-six B, with shares having par value, and shall be subject to the provisions thereof so far as consistent with said sections.
MA Gen L ch 157 § 3b (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 3b - Direct-Charge Cooperatives

Section 3B. Seven or more persons, residents of the commonwealth, may associate themselves as a corporation, association, society or company engaging in cooperative purchasing of goods for the personal use and consumption of the stockholders thereof, members of their families and their guests. A corporation organized under this section shall, in pricing its goods, make no provision for earnings, the accumulation of capital, or operating costs, and shall provide for its operating costs by levying upon its shareholders a direct-charge therefor, on a pro rata basis. The words ''direct charge'' and the word ''cooperative'' shall form a part of the name of the corporation, and for the purposes of this section and sections four to nine, inclusive, the words ''association'', ''company'', ''society'' and ''union'' shall have the same signification and shall import a corporation. The corporation shall be formed as provided in chapter one hundred and fifty-six B, with shares having par value, and shall be subject to the provisions thereof so far as consistent with said sections.
MA Gen L ch 157 § 4 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 4 - Capital Stock; Powers; By-Laws; Meetings

Section 4. The capital stock of a co-operative corporation formed under section three, three A or three B shall not be less than one hundred dollars nor more than five million dollars. No stockholder shall own shares of a greater par value than one tenth of the total par value of the capital stock issued and outstanding unless in a housing cooperative there are less than ten units in which case each stockholder shall own an equal number of shares of the capital stock issued and outstanding, nor shall any member be entitled to more than one vote on any subject arising in the management of the corporation.  In addition to the powers granted by section sixteen of chapter one hundred and fifty-six B, any corporation organized under section three, three A or three B may provide in its by-laws for the election of directors and other officials by unit or district or by mail ballot; for a method of membership representation by annual election of delegates to represent proportionately the members of such units or districts in the membership meeting of the corporation, and shall hear reports of and instruct the delegates on the policy and business of the corporation. The articles of organization shall be altered or amended, and the by-laws shall be altered, amended or repealed, if the delegate type of membership meeting is adopted by any such corporation, only after notice of the proposed action is given in the call for the annual meetings of the units or districts at which the delegates are to be elected to the membership meeting of the corporation, or in the call for the annual election of such delegates if the vote is to be taken by mail ballot, and only upon vote of two-thirds of the delegates eligible to vote at such membership meeting. Special meetings of the units or districts may be demanded by written petition of at least one-tenth of the membership of any such unit or district for the purpose of instructing its delegate or delegates on questions concerning the operation and business of the corporation, in which case it shall be the duty of the clerk or secretary of the corporation to call such unit or district meeting or meetings to take place within thirty days after such demand. The minutes of such unit or district meeting shall be forwarded by the clerk or secretary of such meeting to the clerk or secretary of the corporation and be kept at the principal place of business in the commonwealth.
MA Gen L ch 157 § 5 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 5 - Investment of Reserve Fund

Section 5. At any regular meeting, or at any duly called special meeting, at which a majority of its stockholders are present, a corporation formed under section three may authorize the investment if its reserve fund or any part thereof, first, in the building where it is doing business, or, second, in a first mortgage of real estate owned and occupied as a dwelling by any of its stockholders.
MA Gen L ch 157 § 6 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 6 - Apportionment of Earnings

Section 6. The directors of every corporation formed under section three or under section three A shall apportion its earnings in the following manner:  1. They shall set aside annually not less than ten per cent of its net profits for a reserve fund until there is accumulated in said reserve fund an amount not less than thirty per cent of its paid-up capital stock.  2. They shall declare and pay dividends on the paid-up capital stock not exceeding the prime rate.  3. From the balance of its annual net earnings the directors may appropriate a sum not exceeding five per cent thereof to be used in teaching co-operation.  4. The directors shall distribute the remainder of such earnings or any part thereof by a uniform dividend upon the amount of purchases or rents or sales of shareholders, through the corporation, and, if the directors so vote, upon the amount of wages earned and paid to employees, except that in the case of a purchaser not a shareholder, who desires to become such, a dividend of one half the uniform dividend may be declared upon such non-shareholder's purchases, or rents or sales and credited to him on account of the purchase of stock for which he may subscribe. In productive corporations, including creameries, canneries, storages, factories and the like dividends shall be calculated on raw materials delivered to the corporation instead of on goods purchased. If the corporation be both a purchasing and a selling, or a productive concern, the dividends may be on both raw material and on goods purchased. The profits or net earnings of such corporation shall be distributed to those entitled thereto at such times as the by-laws prescribe, but at least once in every twelve months.
MA Gen L ch 157 § 7 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 7 - Acceptance of Provisions Relating to Agricultural, Dairy or Mercantile Associations; Approval

Section 7. Any co-operative association now organized by law in the commonwealth for any of the purposes mentioned in section three, and qualified so to do, may by a majority vote of the stockholders at a meeting called therefor vote to accept sections three to seven, inclusive, and shall thereupon present to the state secretary a certificate, signed and sworn to by its clerk or secretary, setting forth a copy of said vote, the date when passed, and such further evidence as the secretary may require of its legal existence and of its intention to accept said sections. The secretary shall examine the certificate and evidence of organization, and, if it appears that the law has been complied with, shall so certify, and shall approve the certificate by his endorsement thereon, and thereupon such corporation shall have the powers and privileges and be subject to the duties and liabilities of corporations formed under section three. Upon the payment of a fee to be determined annually by the commissioner of administration under the provision of section three B of chapter seven, said certificate shall be filed in the office of the state secretary.
MA Gen L ch 157 § 8 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 8 - Use of Word Co-Operative in Connection With Other Businesses; Penalty

Section 8. Any person, partnership, association or corporation, domestic or foreign, except employee cooperatives organized under chapter one hundred and fifty-seven A and co-operative banks and corporations organized under section ten, transacting business for profit in the commonwealth under any name or title containing the word ''co-operative'', unless the net earnings thereof are distributed in a manner permitted for a co-operative corporation by this chapter, shall forfeit to the commonwealth not more than ten dollars for every day or part thereof during which such name or title is so used. Such forfeiture may be recovered by an information brought in the supreme judicial or superior court by the attorney general, at the relation of the state secretary. Upon such information, the court may issue a temporary or permanent injunction restraining such person, partnership, association or corporation from doing business in the commonwealth, or from so using such name or title, and may make such other orders and decrees as justice and equity may require.
MA Gen L ch 157 § 9 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 9 - Fee for Filing Articles of Organization

Section 9. The fee for filing the articles of organization required by section three or three A or three B, including the issuing by the state secretary of the certificate of incorporation, shall be determined annually by the commissioner of administration under the provision of section three B of chapter seven.
MA Gen L ch 157 § 10 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 10 - Agricultural, Horticultural and Other Co-Operative Corporations Incorporated Without Capital Stock; Method of Organization; Rights and Powers of Members

Section 10. Agricultural and horticultural associations engaged in any branch of agriculture, horticulture, viticulture, forestry, dairying, the raising of livestock or poultry and any other farming activity or business, if instituted for the mutual benefit of their members and formed for the purpose of doing business without profit to the association itself may be incorporated without capital stock. Such corporations shall be formed in the manner provided by chapter one hundred and fifty-six B and shall be subject to the provisions of said chapter, so far as applicable. Members of corporations so organized shall have the rights and powers and be subject to the duties and liabilities of stockholders of corporations having capital stock, under the provisions of said chapters, so far as is consistent with this and the eight following sections.
MA Gen L ch 157 § 11 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 11 - Powers of Corporations Organized Under Sec. 10

Section 11. Any corporation organized under the preceding section shall have power to mortgage or pledge its real or personal property and to issue promissory notes or other evidences of indebtedness. Such corporation shall also have power to establish reserves and invest the funds thereof in such manner as it may deem advisable or as may be provided in its by-laws; and to exercise all other powers, rights and privileges necessary or incidental to the purposes for which said corporation was organized or to the activities in which it is engaged; provided, however, that no such corporation shall handle the products of any non-member, except for storage.
MA Gen L ch 157 § 12 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 12 - First Meeting; Selection of Directors

Section 12. The first meeting of the corporation shall be held within six months after the execution of the articles of organization. If the directors of the corporation have been previously chosen in anticipation of its organization, or in connection with a plan for preliminary organization, or in accordance with contracts made in anticipation of such organization, such choice of directors shall be ratified at said meeting. Elections of directors shall thereafter be governed by section forty-seven of chapter one hundred and fifty-six B, except as provided in the following section.
MA Gen L ch 157 § 13 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 13 - Scope of By-Laws; Amendment or Repeal of By-Law

Section 13. In addition to the powers granted by section sixteen of chapter one hundred and fifty-six B, any corporation organized under section ten may provide in its by-laws for the election of directors by districts; for the election of advisory directors who are not members, the number of whom shall not be greater than one fifth the total number of directors; for voting of members by proxy, and the mode thereof, within such limitations and restrictions as may be specified therein; for voting of members by mail in elections and on questions concerning the operation and business of the corporation; for the admission, withdrawal, suspension or expulsion of members; for dues and assessments to be paid by members and the conditions under which such dues and assessments shall be imposed and collected; for determining the rights and interests of members in the property of the corporation, whether equal or unequal; for establishing the basis of voting by the members, especially whether the votes of all members shall be equal, or in proportion to the land area leased or used by each member for production of the products handled by the corporation, or in proportion to the quantity of such products delivered by each member to the corporation during the preceding year; for an approved or established form of marketing contract; and for fines or other penalties for violation of its by-laws or marketing contract. No by-law shall be amended or repealed nor any new by-law adopted, unless notice of the proposed action is given in the call for the meeting at which the proposal is to be considered, or in the call for the vote if the vote is to be taken by mail.
MA Gen L ch 157 § 14 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XXII - Corporations|Chapter 157 - Co-Operative Corporations|Section 14 - Membership

Section 14. Membership in such corporations shall be limited to persons engaged in the production of products which are handled or to be handled by the corporation, as specified in its articles of organization, including the lessees or tenants of land used for the production of such products and lessors or landlords to whom are due all or any part of such products produced on leased or rented premises in payment for the use of such premises. If a member is a corporation, it may be represented by any officer thereof, duly authorized in writing.