Title 31A Insurance Code Chapter 17 Determination of Financial Condition Section 407 Accounting for repurchased shares.
31A-17-407.Accounting for repurchased shares.
When a corporation acquires its own shares under Section 31A-5-306 or in any other way,
the acquired shares are accounted as a deduction from capital and not as assets.
Enacted by Chapter 242, 1985 General Session
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