47-1A-721.2. Voting entitlement of redeemable shares.
52 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-721-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Redeemable shares are not entitled to vote after notice of redemption is mailed to the holders and a sum sufficient to redeem the shares has been deposited with a bank, trust company, or other financial institution under an irrevocable obligation to pay the holders the redemption price on surrender of the shares.