D.C. Code § 29-304.41 – Corporation’s acquisition of its own shares. | Midpage

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Code of the District of Columbia

§ 29-304.41

D.C. Code § 29-304.41

Corporation’s acquisition of its own shares.

Effective Jul 2, 2011July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720

(a) A corporation may acquire its own shares and shares so acquired shall constitute authorized but unissued shares.
(b) If the articles of incorporation prohibit the reissue of the acquired shares, the number of authorized shares shall be reduced by the number of shares acquired.

History

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720

Section References

This section is referenced in § 29-308.05.