Section 156D: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. Mass. Gen. Laws ch. 156D, § 6.31
Added by Acts 2003, c. 127, § 17, eff. 7/1/2004.