No shareholder of a professional corporation may transfer his shares in such corporation except to the corporation or to another individual who is eligible to be a shareholder of such corporation.
N.J. Stat. Ann. § 14A:17-12
Transfer of shares
Known as the The Professional Service Corporation Act
The act spans §§ 14A:17-1 to 14A:17-9 (18 sections).
L.1969, c. 232, s. 12, eff
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.