There is a newer version
of
this Section
2020 New Mexico Statutes
Chapter 53 - Corporations
Article 6 - Professional Corporations
Section 53-6-11 - Contingent purchase or redemption price.
Universal Citation: NM Stat § 53-6-11 (2020)
If the articles of incorporation or the bylaws of a professional corporation fail to fix a price at which the corporation or its shareholders may purchase the shares of a deceased or disqualified shareholder, then the price for the shares shall be the book value of the shares as of the end of the month immediately preceding the death or disqualification of the shareholder.
History: 1953 Comp., § 51-22-11, enacted by Laws 1963, ch. 16, § 11; 1969, ch. 245, § 6.
ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 18B Am. Jur. 2d Corporations §§ 1190, 1191.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
