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- Title
SHARE TRANSFER RESTRICTIONS IN CLOSE CORPORATIONS AS MECHANISMS FOR INTELLIGIBLE CORPORATE OUTCOMES.
- Authors
Leacock, Stephen J.
- Abstract
The article discusses the legal validity of the restrictions on share transfer in close corporations. It states that the share transfer restriction is included in the bylaws of corporations and prevents outsiders to purchase stocks from the corporation. It mentions that it must be reasonable to survive the courts' legal nullification. It adds that liquidity is assured by the restrictions with respect to the shareholder's overall investment.
- Subjects
STOCK transfer -- Law &; legislation; CLOSE corporations; STOCK purchase agreements (Close corporations); STOCK ownership; BY-laws; JURY nullification; LIQUIDITY (Economics); SECURITIES
- Publication
Faulkner Law Review, 2011, Vol 3, Issue 1, p109
- ISSN
2160-2328
- Publication type
Article