Maine § 13 §741 Issuance of shares

Maine Statutes

§ 13 §741 — Issuance of shares

Maine § 13 §741

Title 13CORPORATIONS

Part 1CORPORATIONS GENERALLY

Ch. 22-AMAINE PROFESSIONAL SERVICE CORPORATION ACT

This text of Maine § 13 §741 (Issuance of shares) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 13, § 13 §741 (2026).

Text

1.Qualified shareholders. A professional corporation may issue shares, fractional shares and rights or options to purchase shares only to:

2.Licensing authority jurisdiction. If a licensing authority with jurisdiction over a profession considers it necessary to prevent violation of the ethical standards of the profession, the authority may adopt rules under its general rule-making authority or other regulatory authority to restrict or condition, or revoke in part, the authority of professional corporations subject to its jurisdiction to issue shares. A rule described in this subsection does not, of itself, make a shareholder of a professional corporation at the time the rule becomes effective a disqualified person.

3.Unlawful shares void. Shares issued in violation of this section or a

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1.
Qualified shareholders.
A professional corporation may issue shares, fractional shares and rights or options to purchase shares only to:
2.
Licensing authority jurisdiction.
If a licensing authority with jurisdiction over a profession considers it necessary to prevent violation of the ethical standards of the profession, the authority may adopt rules under its general rule-making authority or other regulatory authority to restrict or condition, or revoke in part, the authority of professional corporations subject to its jurisdiction to issue shares. A rule described in this subsection does not, of itself, make a shareholder of a professional corporation at the time the rule becomes effective a disqualified person.
3.
Unlawful shares void.
Shares issued in violation of this section or a rule described in subsection 2 are void.