§ 23-1-44-12 — Dissenters' notice; contents

Indiana § 23-1-44-12

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 44: Dissenters' Rights

Text

(a) If proposed corporate action creating
dissenters' rights under section 8 of this chapter is authorized at a
shareholders' meeting, the corporation shall deliver a written dissenters'
notice to all shareholders who satisfied the requirements of section 11
of this chapter.
(b) The dissenters' notice must be sent no later than ten (10) days
after approval by the shareholders, or if corporate action is taken
without approval by the shareholders, then ten (10) days after the
corporate action was taken. The dissenters' notice must:
(1) state where the payment demand must be sent and where and
when certificates for certificated shares must be deposited;
(2) inform holders of uncertificated shares to what extent transfer
of the shares will be restricted after the payment demand is
received;
(3) supply a form for demanding payment that includes the date
of the first announcement to news media or to shareholders of the
terms of the proposed corporate action and requires that the
person asserting dissenters' rights certify whether or not the
person acquired beneficial ownership of the shares before that
date;
(4) set a date by which the corporation must receive the payment
demand, which date may not be fewer than thirty (30) nor more
than sixty (60) days after the date the subsection (a) notice is
delivered; and
(5) be accompanied by a copy of this chapter.

Legislative History

As added by P.L.149-1986, SEC.28.