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Maine · Through October 1, 2025

13 M.R.S. §747: Cancellation of disqualified shares

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Where this section sits in the code
  1. TITLE 13: CORPORATIONS
  2. PART 1: CORPORATIONS GENERALLY
  3. CHAPTER 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT
  4. SUBCHAPTER 3: 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.

Collected 2026-09-04T15:12:27Z. Source file · JSON

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