§31D-6-631. Corporation's acquisition of its own shares.
(a) Subject to the provisions of chapter thirty-one-a of this
code and unless otherwise prohibited by law, a corporation may
acquire its own shares and shares so acquired constitute authorized
but unissued shares.
(b) If the articles of incorporation prohibit the reissue of
the acquired shares, the number of authorized shares is reduced by
the number of shares acquired.