Shares of stock previously issued which have been reacquired by the corporation, may, unless the articles of organization or by-laws otherwise require, be restored to the status of authorized but unissued shares by vote of the stockholders or by vote of the board of directors, without amendment of the articles of organization.
Mass. Gen. Laws ch. 156B, § 21A
Reacquired shares; restoration to unissued share status
Known as the Business Corporation Law
The act spans §§ 156B-1 to 156B-9B (126 sections).
Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.