47-1A-1325.1. Notice required upon withholding of payment for after-acquired shares.
138 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-1325-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the corporation elected to withhold payment under § 47-1A-1325 , the corporation must, within thirty days after the form required by subsection 47-1A-1322.1 (2)(b) is due, notify all shareholders who are described in § 47-1A-1325 :
(1)Of the information required by subdivision 47-1A-1324(1);
(2)Of the corporation's estimate of fair value pursuant to subdivision 47-1A-1324(2);
(3)That they may accept the corporation's estimate of fair value, plus interest, in full satisfaction of their demands or demand appraisal under § 47-1A-1326 ;
(4)That those shareholders who wish to accept such offer must so notify the corporation of their acceptance of the corporation's offer within thirty days after receiving the offer; and
(5)That those shareholders who do not satisfy the requirements for demanding appraisal under § 47-1A-1326 shall be deemed to have accepted the corporation's offer.