30.0133 Corporation’s acquisition of its own shares.

Cite as [A.S.C.A. § 30.0133]

(a) A corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares.

(b) If the articles of incorporation prohibit the reissue of acquired shares, the number of authorized shares is reduced by the number of shares acquired, effective upon amendment of the articles of incorporation.

History: 2000, PL 26-23.