Maine Statutes
§ 13 §742 — Share transfer restriction
Maine § 13 §742
JurisdictionMaine
Title 13CORPORATIONS
Part 1CORPORATIONS GENERALLY
Ch. 22-AMAINE PROFESSIONAL SERVICE CORPORATION ACT
This text of Maine § 13 §742 (Share transfer restriction) 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 §742 (2026).
Text
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.
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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 namesCite This Page — Counsel Stack
Bluebook (online)
Maine § 13 §742, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/13%20%C2%A7742.