Utah § 16-10a-1328 Procedure for shareholder dissatisfied with payment or offer.

Utah Statutes

§ 16-10a-1328 — Procedure for shareholder dissatisfied with payment or offer.

Utah·Title 16 Corporations·Ch. 16-10a Utah Revised Business Corporation Act·Part 16-10a-13 Dissenters' Rights

(1)A dissenter who has not accepted an offer made by a corporation under Section 16-10a-1327 may notify the corporation in writing of the dissenter's own estimate of the fair value of the dissenter's shares and demand payment of the estimated amount, plus interest, less any payment made under Section 16-10a-1325, if:

(1)(a) the dissenter believes that the amount paid under Section 16-10a-1325 or offered under Section 16-10a-1327 is less than the fair value of the shares;

(1)(b) the corporation fails to make payment under Section 16-10a-1325 within 60 days after the date set by the corporation as the date by which it must receive the payment demand; or

(1)(c) the corporation, having failed to take the proposed corporate action creating dissenters' rights, does not return the deposited cert

Free access — add to your briefcase to read the full text and ask questions with AI

(1) A dissenter who has not accepted an offer made by a corporation under Section 16-10a-1327 may notify the corporation in writing of the dissenter's own estimate of the fair value of the dissenter's shares and demand payment of the estimated amount, plus interest, less any payment made under Section 16-10a-1325, if:
(1)(a) the dissenter believes that the amount paid under Section 16-10a-1325 or offered under Section 16-10a-1327 is less than the fair value of the shares;
(1)(b) the corporation fails to make payment under Section 16-10a-1325 within 60 days after the date set by the corporation as the date by which it must receive the payment demand; or
(1)(c) the corporation, having failed to take the proposed corporate action creating dissenters' rights, does not return the deposited certificates or release the transfer restrictions imposed on uncertificated shares as required by Section 16-10a-1326.
(2) A dissenter waives the right to demand payment under this section unless the dissenter causes the corporation to receive the notice required by Subsection (1) within 30 days after the corporation made or offered payment for the dissenter's shares.

Utah § 16-10a-1328 (Procedure for shareholder dissatisfied with payment or offer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.