For AI agents: read the machine-readable documentation index at /llms.txt or the single-file full reference at /llms-full.txt.
Form a Business

Domestic stock companies; duties of directors

M.G.L. c. 175, § 58
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
c. 175, § 58. Domestic stock companies; duties of directors Section 58. The board of directors shall annually choose by ballot a president, who shall be a member of the board, a secretary, and, if the by-laws so provide, a treasurer, who may also be the president or secretary, and such other officers as the by-laws may provide. They shall at each annual meeting of the company submit a full statement of the transactions of the company during the previous year and of its financial condition.
Source: Massachusetts General Court (malegislature.gov)URL: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter175/Section58Fetched: 10/20/2026

Starting a business in Massachusetts? Massachusetts LLC guide: costs and requirements