6.10.206    STOCK SUBSCRIPTION AGREEMENT--NO DEFAULT OR PENALTY PROVISION

(1) A stock purchase agreement or stock subscription agreement may not contain a default or penalty provision.

History: 30-10-107, MCA; IMP, 30-10-105, 30-10-107, MCA; EMERG, NEW, Eff. 7/5/75; AMD, 1988 MAR p. 1803, Eff. 8/12/88; TRANS, from ARM 6.10.110, 2008 MAR p. 2046, Eff. 9/26/08.