30-29-603. ISSUED AND OUTSTANDING SHARES. (a) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or canceled.
(b) The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection (c) of this section and to section 30-29-640, Idaho Code.
(c) At all times that shares of the corporation are outstanding, one (1) or more shares that together have full voting rights and one (1) or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.
History:
[30-29-603, added 2015, ch. 243, sec. 61, p. 911; am. 2019, ch. 90, sec. 29, p. 245.]
Structure Idaho Code
Chapter 29 - GENERAL BUSINESS CORPORATIONS
Part 6 - SHARES AND DISTRIBUTIONS
Section 30-29-601 - AUTHORIZED SHARES.
Section 30-29-602 - TERMS OF CLASS OR SERIES DETERMINED BY BOARD OF DIRECTORS.
Section 30-29-603 - ISSUED AND OUTSTANDING SHARES.
Section 30-29-604 - FRACTIONAL SHARES.
Section 30-29-620 - SUBSCRIPTION FOR SHARES BEFORE INCORPORATION.
Section 30-29-621 - ISSUANCE OF SHARES.
Section 30-29-622 - LIABILITY OF SHAREHOLDERS.
Section 30-29-623 - SHARE DIVIDENDS.
Section 30-29-624 - SHARE RIGHTS, OPTIONS, WARRANTS, AND AWARDS.
Section 30-29-625 - FORM AND CONTENT OF CERTIFICATES.
Section 30-29-626 - SHARES WITHOUT CERTIFICATES.
Section 30-29-627 - RESTRICTION ON TRANSFER OF SHARES.
Section 30-29-630 - SHAREHOLDERS’ PREEMPTIVE RIGHTS.
Section 30-29-631 - CORPORATION’S ACQUISITION OF ITS OWN SHARES.