South Carolina Statutes
§ 33-13-230 — Shareholders' payment demand.
(a)A shareholder sent a dissenters' notice described in Section 33-13-220 must demand payment, certify whether he (or the beneficial shareholder on whose behalf he is asserting dissenters' rights) acquired beneficial ownership of the shares before the date set forth in the dissenters' notice pursuant to Section 33-13-220(b)(3), and deposit his certificates in accordance with the terms of the notice.
(b)The shareholder who demands payment and deposits his share certificates under subsection (a) retains all other rights of a shareholder until these rights are canceled or modified by the taking of the proposed corporate action.
(c)A shareholder who does not comply substantially with the requirements that he demand payment and deposit his share certificates where required, each by the date
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South Carolina § 33-13-230 (Shareholders' payment demand.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Derived from 1976 Code SECTION 33-11-270 [1962 Code SECTION 12-16.27; 1952 Code SECTIONS 12-459 to 12-462, 12-633 to 12-635; 1942 Code SECTIONS 7706, 7759; 1932 Code SECTIONS 7706, 7759; 1925 (34) 246; 1926 (34) 1052; 1962 (52) 1996; 1963 (53) 327; 1981 Act No. 146, SECTION 2; Repealed, 1988 Act No. 444, SECTION 2]; 1988 Act No. 444, SECTION 2.
Nearby Sections
14
§ 33-13-101
Definitions.§ 33-13-102
Right to dissent.§ 33-13-103
Dissent by nominees and beneficial owners.§ 33-13-200
Notice of dissenters' rights.§ 33-13-210
Notice of intent to demand payment.§ 33-13-220
Dissenters' notice.§ 33-13-230
Shareholders' payment demand.§ 33-13-240
Share restrictions.§ 33-13-250
Payment.§ 33-13-260
Failure to take action.§ 33-13-270
After-acquired shares.§ 33-13-300
Court action.§ 33-13-310
Court costs and counsel fees.