MHHS · Business Corporations Act
Part 6 — Security Certificates,
51 Overissue
Securities Transfer Act and the corporation subsequently amends
its articles, or a trust indenture to which it is a party, to increase its
authorized securities to a number equal to or in excess of the
number of securities previously authorized plus the amount of the
securities overissued, the securities so overissued are valid from the
date of their issue.
(2) Subsection (1) does not apply if the issuer has purchased and
delivered a security in accordance with section 67(2) or (3) of the
Securities Transfer Act.
(3) A purchase or payment in accordance with section 67(2) or (3)
of the Securities Transfer Act is not a purchase or payment to
which section 34, 35, 36 or 39 applies.
RSA 2000 cB-9 s51;2006 cS-4.5 s106
52 to 80 Repealed 2006 cS-4.5 s106.