{"data":{"id":"us-ma/mass.-gen.-laws-ch.-157b-6","jurisdiction":"us-ma","citation":"Mass. Gen. Laws ch. 157B, § 6","heading":"Articles of organization","body":"Section 6. Three or more persons, residents of the commonwealth, may organize a cooperative corporation by filing articles of organization with the secretary of the commonwealth. The articles must meet the requirements of chapter one hundred and fifty-six B, and, in addition, shall state:\n(1) whether transfer of its stock is restricted;\n(2) whether or not it shall be authorized to pay dividends on its stock, but no cooperative corporation may pay a dividend of more than ten per cent, noncumulative, upon its stock;\n(3) whether the transfer value of its stock is restricted.","path":["Part I","Title XXII","Chapter 157B"],"source_url":"https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter157B/Section6","current_through":"amendments passed before May 31, 2026","vintage":"","retrieved_at":"2026-09-17T05:23:43Z","sha256":"f9e736b0770422ddaccd35b0c0d2ad0b238b85b4d63dd136cf23986e38078b43","source_id":"us-ma","stale":false,"prev":"us-ma/mass.-gen.-laws-ch.-157b-5","next":"us-ma/mass.-gen.-laws-ch.-157b-7"},"notice":"GroundRules: Original legal text. Not legal advice."}