Delaware Code (Titles 8, 9, 25, 30)
8 Del. C. § 613
Price for shares
If the certificate of incorporation or bylaws of a professional corporation, or a separate contract among all of the shareholders of the professional corporation and, if such contract provides for redemption, the professional corporation itself, fails to fix a price at which a professional corporation or its shareholders may purchase the shares of a deceased, retired, expelled or disqualified shareholder, and if the certificate of incorporation or bylaws or such contract do not otherwise provide, then the price for the share or shares shall be the book value at the end of the month immediately preceding the death or disqualification of the shareholder. Book value shall be determined by an independent certified public accountant employed by the professional corporation. The determination by the certified public accountant of book value shall be conclusive on the professional corporation and its shareholders.
Amendment history
57 Del. Laws, c. 127; 80 Del. Laws, c. 184, § 1
Source: view the official text
In this title (40 sections)
- 8-396 · Publication of chapter by Secretary of State; distribution
- 8-397 · Penalty for unauthorized publication of chapter
- 8-398 · Short title
- 8-501 · Corporations subject to and exempt from franchise tax
- 8-502 · Annual franchise tax report; contents; failure to file and pay…
- 8-503 · Rates and computation of franchise tax
- 8-504 · Collection and disposition of tax; tentative return and tax;…
- 8-505 · Review and refund; jurisdiction and power of the Secretary of…
- 8-506 · Fund for payment of refunds
- 8-507 · Collection of tax; preferred debt
- 8-508 · Injunction against exercise of franchise or transacting business
- 8-509 · Further remedy in Court of Chancery; appointment of receiver or…
- 8-510 · Failure to pay tax or file a complete annual report for 1 year;…
- 8-511 · Repeal of charters of delinquent corporations; report to…
- 8-512 · Filing and publication of proclamation
- 8-513 · Acting under proclaimed charter; penalty
- 8-514 · Mistakes in proclamation; correction
- 8-515 · Annual report of Secretary of State
- 8-516 · Retaliatory taxation and regulation; imposition
- 8-517 · Duties of Attorney General
- 8-518 · Relief for corporations with assets in certain unfriendly…
- 8-601 · Legislative intent
- 8-602 · Short title
- 8-603 · Definitions
- 8-604 · Exemptions
- 8-605 · Authority to organize; law governing
- 8-606 · Number of directors; officers
- 8-607 · Rendition of professional services through licensed officers,…
- 8-608 · Chapter not to affect professional relationship; legal…
- 8-609 · Engaging in other business prohibited
- 8-610 · Issuance of capital stock to licensed individuals; voting trust…
- 8-611 · Disqualification of officer, shareholder, agent or employee
- 8-612 · Sale or transfer of shares
- 8-613 · Price for shares
- 8-614 · Perpetual corporate existence
- 8-615 · Conversion into business corporation
- 8-616 · Time for transfer of shares upon death or disqualification
- 8-617 · Corporate name
- 8-618 · Applicability of General Corporation Law; consolidation or…
- 8-619 · Construction of chapter