No stockholder shall have any pre-emptive right to acquire stock of the corporation except to the extent provided in the articles of organization or in a by-law adopted by and subject to amendment only by the stockholders.
Mass. Gen. Laws ch. 156B, § 20
Pre-emptive rights
Known as the Business Corporation Law
The act spans §§ 156–156 (126 sections).
Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.