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Canada Business Corporations Act

Version of section 37 from 2011-11-29 to 2024-02-20:

Marginal note:Gift or legacy of shares

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

  • R.S., 1985, c. C-44, s. 37
  • 2011, c. 21, s. 24

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