Maine Revised Statutes

§742. Share transfer restriction

1. Limit to transfers.  A shareholder of a professional corporation may transfer or pledge shares, fractional shares and rights or options to purchase shares of the corporation only to qualified persons.
[ 2001, c. 640, Pt. B, §2 (NEW); 2001, c. 640, Pt. B, §7 (AFF) .]
2. Other transfers void.  A transfer of shares made in violation of subsection 1, except one made by operation of law or court judgment, is void.
[ 2001, c. 640, Pt. B, §2 (NEW); 2001, c. 640, Pt. B, §7 (AFF) .]
SECTION HISTORY
2001, c. 640, §B2 (NEW). 2001, c. 640, §B7 (AFF).