§ 1399.477. Shares: Ownership and Transfer.
16 CA ADC § 1399.477Barclays Official California Code of Regulations
16 CCR § 1399.477
§ 1399.477. Shares: Ownership and Transfer.
(2) Becomes a disqualified person as defined in Section 13401(e) of the Corporations Code, the shareholder's shares shall be sold and transferred to the corporation, its shareholders, or other eligible licensed persons on such terms as are agreed upon. Such sale or transfer shall not be later than six (6) months after any such death and not later than ninety (90) days after the date the shareholder becomes a disqualified person. The requirements of this subsection shall be set forth in the acupuncture corporation's articles of incorporation or bylaws.
Credits
Note: Authority cited: Sections 4933 and 4979, Business and Professions Code. Reference: Sections 4977.1 and 4979, Business and Professions Code; and Sections 13401, 13403, 13406 and 13407, Corporations Code.
History
1. Amendment of subsection (f) filed 8-5-81; effective thirtieth day thereafter (Register 81, No. 32).
2. Amendment filed 10-14-83; effective thirtieth day thereafter (Register 83, No. 42).
3. Change without regulatory effect amending section filed 4-22-2022 pursuant to section 100, title 1, California Code of Regulations (Register 2022, No. 16).
This database is current through 7/12/24 Register 2024, No. 28.
Cal. Admin. Code tit. 16, § 1399.477, 16 CA ADC § 1399.477
End of Document |