35-4-302. Corporation's right to acquire its own shares, MCA
  1. MCA Contents
  2. TITLE 35
  3. CHAPTER 4
  4. Part 3
  5. 35-4-302 Corporation's right to acquire its own shares

Montana Code Annotated 2019

TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

CHAPTER 4. MONTANA PROFESSIONAL CORPORATION ACT

Part 3. Shares and Shareholders

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.