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2014 Idaho Statutes
Title 30 - CORPORATIONS
Chapter 3 - IDAHO NONPROFIT CORPORATION ACT
Section 30-3-41 - RESIGNATION.


ID Code § 30-3-41 (2014) What's This?

30-3-41. Resignation. (1) A member may resign at any time. A person ceases to be a stockholder only when that person's shares of stock have all been disposed of.

(2) The resignation of a member, or the disposal of all stock of a stockholder, does not relieve the member from any obligations the member may have to the corporation as a result of obligations incurred or commitments made prior to resignation.

(3) The provisions of title 42 shall also apply to all resignations pursuant to this section if a company or corporation is regulated or governed pursuant to that title.


History:

[30-3-41, added 1993, ch. 220, sec. 2, p. 702; am. 1997, ch. 282, sec. 6, p. 859.]

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