§ 5-111. Transfer of stock

Latest version.

(a) In general. -- A stockholder of a professional corporation may transfer or pledge stock, fractional stock, and rights or options to purchase stock of the corporation only to a qualified person.

(b) Void transfers. -- A transfer of stock made in violation of subsection (a) of this section, except a transfer made by operation of law or by court judgment, is void.

HISTORY: 1993, ch. 413, § 2.

                    
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