13 M.R.S. §747: Cancellation of disqualified shares
Where this section sits in the code
- TITLE 13: CORPORATIONS
- PART 1: CORPORATIONS GENERALLY
- CHAPTER 22-A: MAINE PROFESSIONAL SERVICE CORPORATION ACT
- 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