Skip to main content
Find a Lawyer

Idaho Statutes Title 30. Corporations § 30-29-604. Fractional shares

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A corporation may issue fractions of a share or, in lieu of doing so, may:

(1) Pay in cash the value of fractions of a share;

(2) Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share; or

(3) Arrange for disposition of fractional shares by the holders of such shares.

(b) Each certificate representing scrip must be conspicuously labeled “scrip” and must contain the information required by section 30-29-625(b), Idaho Code.

(c) The holder of a fractional share is entitled to exercise the rights of a shareholder, including the rights to vote, to receive dividends, and to receive distributions upon dissolution. The holder of scrip is not entitled to any of these rights unless the scrip provides for them.

(d) The board of directors may authorize the issuance of scrip subject to any condition, including that:

(1) The scrip will become void if not exchanged for full shares before a specified date; and

(2) The shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Idaho Statutes Title 30. Corporations § 30-29-604. Fractional shares - last updated January 01, 2024 | https://codes.findlaw.com/id/title-30-corporations/id-st-sect-30-29-604/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard