Title 13: CORPORATIONS

Part 1: CORPORATIONS GENERALLY

Chapter 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT

Subchapter 3: SHARES

§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.  

[PL 2001, c. 640, Pt. B, §2 (NEW); PL 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.  

[PL 2001, c. 640, Pt. B, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]

SECTION HISTORY

PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).