Maine Revised Statutes

§747. Cancellation of disqualified shares

If the shares of a disqualified person are not acquired pursuant to section 743 within 10 months after the death of the shareholder or within 5 months after the disqualification or transfer, the professional corporation shall immediately cancel the shares on its books and the disqualified person has no further interest as a shareholder in the corporation other than the right to payment for the shares under section 743. [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).

Data for this page extracted on 10/06/2014 08:45:40.