Mass. Gen. Laws ch. 156D, § 6.31: Corporation's acquisition of its own shares

Section 6.31. CORPORATION'S ACQUISITION OF ITS OWN SHARES

(a) A corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares.

(b) If the articles of organization prohibit the reissue of acquired shares, the number of authorized shares is reduced by the number of shares acquired.