RTA · Business Corporations Act
Part 5 — Corporate Finance
34 Acquisition by corporation of its own shares
may purchase or otherwise acquire shares issued by it.
(2) A corporation shall not make any payment to purchase or
otherwise acquire shares issued by it if there are reasonable
grounds for believing that
(a) the corporation is, or would after the payment be, unable to
pay its liabilities as they become due, or
(b) the realizable value of the corporation's assets would after
the payment be less than the aggregate of its liabilities and
stated capital of all classes.
(3) Subject to any unanimous shareholder agreement, a corporation
that is not a reporting issuer shall, within 30 days after the purchase
of any of its issued shares, notify its shareholders in accordance
with section 255
(a) of the numb er of shares it has purchased,
(b) of the names of the shareholders from whom it has
purchased the shares,
(c) of the price paid for the shares,
(d) if the consideration was other than cash, of the nature of the
consideration given and the value attributed to it, and
(e) of the balance, if any, remaining due to shareholders or
shareholders from whom it purchased the shares.
(4) Subject to any unanimous shareholder agreement, a
shareholder of a corporation other than a reporting issuer is entitled
on request and without charge to a copy of the agreement between
the corporation and any of its other shareholders under which the
corporation has agreed to purchase, or has purchased, any of its
own shares.
RSA 2000 cB-9 s34;2021 c18 s71