Number of shareholders

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For purposes of Sections 79-4-1.01 et seq., the following identified as a shareholder in a corporation's current record of shareholders constitutes one (1) shareholder:

  1. Three (3) or fewer co-owners;
  2. A corporation, partnership, trust, estate or other entity;
  3. The trustees, guardians, custodians or other fiduciaries of a single trust, estate or account.

For purposes of Sections 79-4-1.01 et seq., shareholdings registered in substantially similar names constitute one (1) shareholder if it is reasonable to believe that the names represent the same person.


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