§ 13-C §1321 — Notice of appraisal rights

Maine § 13-C §1321

• Jurisdiction: Maine
• Title 13-C: MAINE BUSINESS CORPORATION ACT
• Ch. 13: APPRAISAL RIGHTS

Text

1.
Meeting notice.
If a proposed corporate action described in section 1302 is to be submitted to a vote at a shareholders' meeting, the meeting notice must state that the corporation has concluded that shareholders are, are not or may be entitled to assert appraisal rights under this chapter. If the corporation concludes that appraisal rights are or may be available, a copy of this chapter must accompany the meeting notice sent to those record shareholders entitled to exercise appraisal rights.
2.
Notice of corporate action.
In a merger pursuant to section 1105, the parent corporation shall notify in writing all record shareholders of the subsidiary who are entitled to assert appraisal rights that a corporate action became effective. The notice must be sent within 10 days after the corporate action became effective and include the materials described in section 1323.
3.
Action by written consent.
If a corporate action specified in section 1302 is to be approved by written consent of the shareholders pursuant to section 704:

Legislative History

PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF). PL 2007, c. 289, §33 (AMD). PL 2011, c. 274, §67 (AMD).