47-1A-1321. Notice of intent to demand payment.
114 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-1321·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If proposed corporate action requiring appraisal rights under §§ 47-1A-1302 to 47-1A-1302.3 , inclusive, is submitted to a vote at a shareholders' meeting, a shareholder who wishes to assert appraisal rights with respect to any class or series of shares:
(1)Must deliver to the corporation before the vote is taken written notice of the shareholder's intent to demand payment if the proposed action is effectuated; and
(2)Must not vote, or cause or permit to be voted, any shares of such class or series in favor of the proposed action.
A shareholder who does not satisfy the requirements of this section is not entitled to payment under §§ 47-1A-1301 to 47-1A-1331.2 , inclusive.