Maine Statutes
§ 13-C §642 — Corporation's acquisition of its own shares
Maine § 13-C §642
This text of Maine § 13-C §642 (Corporation's acquisition of its own 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-C, § 13-C §642 (2026).
Text
1.Acquisition.
A corporation may acquire its own shares. Shares so acquired constitute authorized but unissued shares.
2.Prohibition on reissuance.
If a corporation's articles of incorporation prohibit the reissue of the acquired shares, the number of authorized shares is reduced by the number of shares acquired.
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Legislative History
PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF).
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New election if objections filedCite This Page — Counsel Stack
Bluebook (online)
Maine § 13-C §642, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/13-C%20%C2%A7642.