Maine § 13 §747 Cancellation of disqualified shares

Maine Statutes

§ 13 §747 — Cancellation of disqualified shares

Maine § 13 §747

Title 13CORPORATIONS

Part 1CORPORATIONS GENERALLY

Ch. 22-AMAINE PROFESSIONAL SERVICE CORPORATION ACT

This text of Maine § 13 §747 (Cancellation of disqualified 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 §747 (2026).

Text

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.

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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.