{"data":{"id":"us-ms/miss.-code-ann.-79-10-37","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 79-10-37","heading":"Compulsory acquisition of shares after death or disqualification of shareholder.","body":"(1) A professional corporation must acquire (or cause to be acquired by a qualified person) the shares of its shareholder if:\n(a) The shareholder dies and the successor in interest to the deceased shareholder is not a qualified person, except as provided in subsection (3);\n(b) The shareholder becomes a disqualified person, except as provided in subsection (3); or\n(c) The shares are transferred by operation of law or court judgment to a disqualified person, except as provided in subsection (3).\n(2) If a price for the shares is established in accordance with the articles of incorporation or bylaws or by private agreement, that price controls. If the price is not so established, the corporation shall acquire the shares in accordance with Section 79-10-39. If the disqualified person rejects the corporation’s purchase offer made pursuant to Section 79-10-39, either the person or the corporation may commence a proceeding under Section 79-10-41 to determine the price of the shares.\n(3) This section does not require the acquisition of shares in the event of disqualification if the disqualification lasts no more than five (5) months from the date the disqualification or transfer occurs. A shareholder who becomes a disqualified person shall notify the corporation promptly.\n(4) This section and Section 79-10-39 do not prevent or relieve a professional corporation from paying pension benefits or other deferred compensation for services rendered to a former shareholder if otherwise permitted by law.\n(5) A provision for the acquisition of shares contained in a professional corporation’s articles of incorporation or bylaws, or in a private agreement, is specifically enforceable.","path":["Title 79. Corporations, Associations, and Partnerships","Chapter 10. Mississippi Professional Corporation Act","Article 3. Shares."],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.79.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:23Z","sha256":"7ac642d325c68a18f34ae02798cba59f000f92993900c9aa3fdde72233b03e2b","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-79-10-35","next":"us-ms/miss.-code-ann.-79-10-39","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}