LegalFix

Section 10 - Documentary Materials Concerning Trade Secrets, Commercial or Financial Information; Confidentiality

MA Gen L ch 40g § 10 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Section 10. Any documentary materials or data made or received by any member or employee of the corporation, to the extent that such material or data consist of trade secrets, commercial or financial information regarding the operation of any business conducted by an applicant for, or recipient of, any form of assistance which the corporation is empowered to render, or regarding the competitive position of such applicant in a particular field of endeavor, shall not be deemed public records and shall not be subject to the provisions of section ten of chapter sixty-six; provided, however, that if the corporation purchases a qualified security from such applicant, the commercial and financial information, excluding trade secrets, shall be deemed to become a public record of the corporation and subject to the provisions of said section ten of said chapter sixty-six after the sale of the corporation's qualified security. Any discussion or consideration of such trade secrets or commercial or financial information, may be held by the board, or any subcommittee of the board, in executive sessions closed to the public, notwithstanding the provisions of section eleven A and one-half of chapter thirty A; provided, however, that the purpose of any such executive session shall be set forth in the official minutes of the corporation and business which is not related to such purpose shall not be transacted, nor shall any vote be taken during such executive sessions.

LegalFix

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.
Section 10 - Documentary Materials Concerning Trade Secrets, Commercial or Financial Information; Confidentiality