Arkansas § 4-27-1325 Payment

Arkansas Statutes

§ 4-27-1325 — Payment

(a)Except as provided in § 4-27-1327 , 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 § 4-27-1323 the amount the corporation estimates to be the fair value of his 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 (16) 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

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(a) Except as provided in § 4-27-1327 , 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 § 4-27-1323 the amount the corporation estimates to be the fair value of his 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 (16) 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 § 4-27-1328 ; and (5) a copy of this subchapter.

Arkansas § 4-27-1325 (Payment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.