§ 13-C §1301 — Definitions

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.
1.
Affiliate.
"Affiliate" means:
2.
Beneficial shareholder.
"Beneficial shareholder" means a person who is the beneficial owner of shares held in a voting trust or by a nominee on the beneficial owner's behalf.
3.
Corporation.
"Corporation" means the issuer of the shares held by a shareholder demanding appraisal and, for matters covered in sections 1323 to 1332, includes the surviving entity in a merger.
4.
Fair value.
"Fair value" means the value of a corporation's shares determined:
5.
Interest.
"Interest" means interest from the effective date of a corporate action until the date of payment, at the rate of interest on judgments in this State on the effective date of the corporate action.
5-A.
Interested transaction.
"Interested transaction" means a corporate action described in section 1302, subsection 1, other than a merger pursuant to section 1105, involving an interested person in which any of the shares or assets of the corporation are being acquired or converted. For the purposes of this subsection:
6.
Preferred shares.
"Preferred shares" means a class or series of shares whose holders have preference over any other class or series of shares with respect to distributions.
7.
Record shareholder.
"Record shareholder" means a person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with the corporation.
8.
Senior executive.
"Senior executive" means a chief executive officer, chief operating officer, chief financial officer and anyone in charge of a principal business unit or function.
9.
Shareholder.
"Shareholder" means both a record shareholder and a beneficial shareholder.

Legislative History

PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF). PL 2011, c. 274, §§58, 59 (AMD).