§ 47-1a-627-2

47-1A-627.2. Terms of restriction on transfer or registration of transfer of shares.A restriction on the transfer or registration of transfer of shares may:(1)Obligate the shareholder first to offer the corporation or other persons, separately, consecutively, or simultaneously, an opportunity to acquire the restricted shares;(2)Obligate the corporation or other persons, separately, consecutively, or simultaneously, to acquire the restricted shares;(3)Require the corporation, the holders of any class of its shares, or another person to approve the transfer of the restricted shares, if the requirement is not manifestly unreasonable;(4)Prohibit the transfer of the restricted shares to designated persons or classes of persons, if the prohibition is not manifestly unreasonable. Source: SL 2005, ch 239, §76.