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By Mr. Finegold of Andover, petition (accompanied by bill, House, No. 1225) of Barry R. Finegold and others relative to cooperative housing corporations. Housing. |
The Commonwealth of Massachusetts
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PETITION OF:
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By Mr. Finegold of Andover, petition (accompanied by bill, House, No. 1225) of Barry R. Finegold and others relative to cooperative housing corporations. Housing. |
The Commonwealth of Massachusetts
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PETITION OF:
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In the Year Two Thousand and Seven.
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Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Section 2 of chapter 157B of the General Laws, as appearing in the 2004 Official Edition, is hereby amended by adding the following paragraph:-
New and existing corporations shall no longer have the option to become a cooperative housing corporations. New and existing corporations shall only become limited equity cooperative housing corporations.