Current with changes from the 2024 legislative session enacted on or before 4/18/2024
Section 21-251 - Corporation's acquisition of its own shares
(MBCA 6.31)
(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 the acquired shares, the number of authorized shares is reduced by the number of shares acquired.