Sec. 33-182g. Limitation on issuance or transfer of capital stock. Voting trust agreements restricted.
Sec. 33-182g. Limitation on issuance or transfer of capital stock. Voting trust
agreements restricted. No corporation organized under the provisions of this chapter
may issue any of its capital stock or permit the transfer of its capital stock on its books
to any one other than a person specified in section 33-182c, or the personal representative
or estate of a deceased or legally incompetent shareholder. No shareholder of a corporation organized under this chapter shall enter into a voting trust agreement or any other
type of agreement vesting another person, other than one specified in section 33-182c,
with the authority to exercise the voting power of any or all of his stock. When the
failure of a corporation to comply with this section is brought to the attention of the
office of the Secretary of the State, said secretary forthwith shall certify that fact to the
Attorney General for appropriate action to dissolve the corporation.
(1969, P.A. 332, S. 7; 1971, P.A. 360, S. 1; P.A. 91-324, S. 7.)
History: 1971 act specified that person to whom stock issued or transferred must be personal representative or estate
of deceased or legally incompetent shareholder and that person executing voting power must be licensed or otherwise
legally authorized to render "same specific professional services as those for which the corporation was incorporated";
P.A. 91-324 replaced references to a person "who is licensed or otherwise legally authorized to render the same specific
professional services as those for which the corporation was incorporated" with reference to a person "specified in section
33-182c".