Indiana Statutes
§ 23-1-44-17 — Withholding payment by corporation; corporation's estimate of fair value; after-acquired shares
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 1 INDIANA BUSINESS CORPORATION LAW·Ch. 44 Dissenters' Rights
(a)A corporation may elect to withhold
payment required by section 15 of this chapter from a dissenter unless
the dissenter was the beneficial owner of the shares before the date set
forth in the dissenters' notice as the date of the first announcement to
news media or to shareholders of the terms of the proposed corporate
action.
(b)To the extent the corporation elects to withhold payment under
subsection (a), after taking the proposed corporate action, it shall
estimate the fair value of the shares and shall pay this amount to each
dissenter who agrees to accept it in full satisfaction of the dissenter's
demand. The corporation shall send with its offer a statement of its
estimate of the fair value of the shares and a statement of the dissenter's
right to demand payment under section 1
Free access — add to your briefcase to read the full text and ask questions with AI
Indiana § 23-1-44-17 (Withholding payment by corporation; corporation's estimate of fair value; after-acquired shares) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.149-1986, SEC.28.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"