Maine Statutes
§ 13 §742 — Share transfer restriction
Maine·Title 13 CORPORATIONS·Part 1 CORPORATIONS GENERALLY·Ch. 22-A MAINE PROFESSIONAL SERVICE CORPORATION ACT
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.
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.
Free access — add to your briefcase to read the full text and ask questions with AI
Maine § 13 §742 (Share transfer restriction) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
Nearby Sections
15
§ 13 §701
Short title§ 13 §702
Intent§ 13 §703
Definitions§ 13 §704
Exemptions§ 13 §705
Corporate organization§ 13 §706
Method of organization§ 13 §707
Limitation§ 13 §708
Interpretation; liability§ 13 §708-A
Interpretation; liability§ 13 §709
Business transactions§ 13 §71
Purposes§ 13 §710
Capital stock§ 13 §711
Disqualifications§ 13 §712
Alienation of shares§ 13 §713
Corporate and assumed names