Power to acquire own shares.
Section 41
SEC. 41. Power to acquire own shares.—A stock corporation shall have the power to purchase or acquire its own shares for a legitimate corporate purpose or purposes, including but not limited to the following cases: Provided, That the corporation has unrestricted retained earnings in its books to cover the shares to be purchased or acquired: To eliminate fractional shares arising out of stock dividends; To collect or compromise an indebtedness to the corporation, arising out of unpaid subscription, in a delinquency sale, and to purchase delinquent shares sold during said sale; and To pay dissenting or withdrawing stockholders entitled to payment for their shares under the provisions of this Code. (n)