Corporation's right to acquire its own shares

1. Law
2. Montana Code Annotated
3. Corporations, Partnerships, and Associations
4. Montana Professional Corporation Act
5. Shares and Shareholders
6. Corporation's right to acquire its own shares

35-4-302. Corporation's right to acquire its own shares. A professional corporation may purchase its own shares from a disqualified person without regard to the availability of capital or surplus for such purchase; however, no purchase of or payment for its own shares may be made at a time when the corporation is insolvent or if purchase or payment would make it insolvent.

History: En. Sec. 15, Ch. 399, L. 1983.

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