30-1309A. Death or disqualification of sole shareholder. If a corporation organized under this chapter has only one (1) shareholder, and that shareholder becomes disqualified under section 30-1309, Idaho Code, or dies, the disqualified shareholder or the personal representative of the deceased shareholder may, notwithstanding other provisions of this chapter, exercise the voting rights of the outstanding shares only for the purpose of dissolving the corporation pursuant to sections 30-1-1401 through 30-1-1440, Idaho Code, consolidating or merging the corporation pursuant to section 30-1312, Idaho Code, or converting the corporation to a corporation for profit under the Idaho entity transactions act, chapter 18, title 30, Idaho Code, or, if excluded by said act pursuant to section 30-18-110, Idaho Code, under the Idaho business corporation act, chapter 1, title 30, Idaho Code.
History:
[30-1309A, added 1979, ch. 108, sec. 4, p. 344; am. 1987, ch. 191, sec. 1, p. 389; am. 2003, ch. 62, sec. 1, p. 209; am. 2007, ch. 116, sec. 6, p. 358.]
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Idaho Statutes