Canada Business Corporations Act

Version of section 37 from 2003-01-01 to 2011-11-28:

Marginal note:Donated shares

 A corporation may accept from any shareholder a share of the corporation surrendered to it as a gift, but may not extinguish or reduce a liability in respect of an amount unpaid on any such share except in accordance with section 38.

  • 1974-75-76, c. 33, s. 35.
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