Section 10 Organization without capital stock; method of organization; rights and powers of members - Massachusetts Statutes

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.