§ 47-1A-1320 — Notice of appraisal rights.

If proposed corporate action described in § 47-1A-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 §§ 47-1A-1301 to 47-1A-1331.2 , inclusive. If the corporation concludes that appraisal rights are or may be available, a copy of §§ 47-1A-1301 to 47-1A-1331.2 , inclusive, must accompany the meeting notice sent to those record shareholders entitled to exercise appraisal rights. In a merger pursuant to §§ 47-1A-1105 to 47-1A-1105.2 , inclusive, the parent corporation shall notify in writing all record shareholders of the subsidiary who are entitled to assert appraisal rights that the corporate action became effective. Such notice shall be sent within ten days after the corporate action became effective and include the materials described in §§ 47-1A-1322 to 47-1A-1323 , inclusive.

Legislative History

SL 2005, ch 239, § 287.