As Amended
SEC. 79-10-35. Share transfer restriction.
(1) A shareholder of a professional corporation may transfer shares, fractional shares and rights or options to purchase shares of the corporation only to qualified persons. A shareholder of a professional corporation may pledge shares to a qualified person or to a disqualified person.
(2) A transfer of shares made in violation of subsection (1), except one made by operation of law or court judgment, is void.
SOURCES: Laws, 1995, ch. 494, Sec. 12, eff from and after July 1, 1995