[§414-352] Notice of intent to demand payment.
110 words·~1 min read·
/hi/chapter-414/414-352A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§414-352] Notice of intent to demand payment.
(a)If proposed corporate action creating dissenters' rights under section 414-342 is submitted to a vote at a shareholders' meeting, a shareholder who wishes to assert dissenters' rights:
(1)Must deliver to the corporation before the vote is taken written notice of the shareholder's intent to demand payment for the shareholder's shares if the proposed action is effectuated; and
(2)Must not vote the shareholder's shares in favor of the proposed action.
(b)A shareholder who does not satisfy the requirements of subsection
(a)is not entitled to payment for the shareholder's shares under this part. [L 2000, c 244, pt of §1]