CORPORATIONS, ASSOCIATIONS, AND PROPRIETORS OF COMMON LANDS
294-A:13 Cancellation of Shares.
If the purchase, redemption, or transfer of the shares of a deceased or disqualified shareholder or of a transferee who is a disqualified person is not completed within 10 months after the death of the deceased shareholder or 5 months after the disqualification or transfer, the corporation shall immediately cancel the shares on its books and the disqualified person shall have no further interest as a shareholder in the corporation other than his right to payment for such shares under RSA 294-A:9-12.
Source. 1981, 236:1, eff. Feb. 1, 1982.