Share transfer restriction

13 M.R.S. § 742, under MAINE PROFESSIONAL SERVICE CORPORATION ACT.

13 M.R.S. § 742

1. Limit to transfers. A shareholder of a professional corporation may transfer or pledge shares, fractional shares and rights or options to purchase shares of the corporation only to qualified persons.

2. Other transfers void. A transfer of shares made in violation of subsection 1, except one made by operation of law or court judgment, is void.