[§414-356] Payment.
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/hi/chapter-414/414-356A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§414-356] Payment.
(a)Except as provided in section 414-358, as soon as the proposed corporate action is taken, or upon receipt of a payment demand, the corporation shall pay each dissenter who complied with section 414-354 the amount the corporation estimates to be the fair value of the dissenter's shares, plus accrued interest.
(b)The payment must be accompanied by:
(1)The corporation's balance sheet as of the end of a fiscal year ending not more than sixteen months before the date of payment, an income statement for that year, a statement of changes in shareholders' equity for that year, and the latest available interim financial statements, if any;
(2)A statement of the corporation's estimate of the fair value of the shares;
(3)An explanation of how the interest was calculated;
(4)A statement of the dissenter's right to demand payment under section 414-359; and
(5)A copy of this part. [L 2000, c 244, pt of §1]