35-4-302. Corporation's right to acquire its own shares.
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/mt/title-35/chapter-4/part-3/35-4-302A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.