Mississippi Code
Miss. Code Ann. § 79-4-6.04 (2026)
Fractional shares
✓ current as of July 2026
- (a) A corporation may:
- (1) Issue fractions of a share or pay in money the value of fractions of a share;
- (2) Arrange for disposition of fractional shares by the shareholders;
- (3) Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share.
- (b) Each certificate representing scrip must be conspicuously labeled "scrip" and must contain the information required by Section 79-4-6.25(b).
- (c) The holder of a fractional share is entitled to exercise the rights of a shareholder, including the right to vote, to receive dividends, and to participate in the assets of the corporation upon liquidation. 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 considered desirable, including:
- (1) That the scrip will become void if not exchanged for full shares before a specified date; and
- (2) That the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.
Laws, 1987, ch. 486, § 6.04, eff. 1/1/1988.
Notes of Decisions
Cited in 2
cases, 2000–2000 · leading case: Lerner v. Lerner Corp., 750 A.2d 709 (Md. Ct. Spec. App. 2000).
Lerner v. Lerner Corp., 750 A.2d 709 (Md. Ct. Spec. App. 2000). “423 (West 1999); Miss.Code Ann. § 79-4-6.04 (1999); Mo. Ann.”
Lerner v. Lerner Corp., 750 A.2d 709 (Md. Ct. Spec. App. 2000). “423 (West 1999); Miss.Code Ann. § 79-4-6.04 (1999); Mo. Ann.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.