Section 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.Laws, 1995, ch. 494, § 12, eff. 7/1/1995.