Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
245 Acquisition of own shares
a provincial company may authorize the company to purchase or
otherwise acquire shares issued by it.
(2) The directors of a provincial company must not authorize the
company to make any payment to purchase or otherwise acquire
shares issued by it if there are reasonable grounds for believing that
(a) the company is, or after the payment would be, unable to
pay its liabilities as they become due, or
(b) the realizable value of the company's assets after the
payment would be less than the aggregate of its liabilities
and the market value of all its shares.
RSA 2000
(3) A provincial company that is not a reporting issuer must,
within 30 days after the purchase of any of its issued shares, notify
its shareholders
(a) of the number 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, and
(d) of the balance, if any, remaining due to the shareholders
from whom it has purchased the shares.
(4) A shareholder of a provincial company other than a reporting
issuer is entitled on request and without charge to a copy of the
agreement between the company and any of its other shareholders
under which the company has agreed to purchase, or has purchased,
any of its own shares.
RSA 2000 cI-3 s245;2013 c18 s27