§ 25.05.455 — Payment of fair value—Requirements for compliance.

Washington § 25.05.455

• Jurisdiction: Washington
• Title 25: PARTNERSHIPS
• Ch. 25.05: REVISED UNIFORM PARTNERSHIP ACT

Text

(1) Within thirty days of the later of the date the proposed merger becomes effective, or the payment demand is received, the partnership shall pay each dissenter who complied with RCW 25.05.445 the amount the partnership estimates to be the fair value of the dissenting partner's interest in the partnership, plus accrued interest.

(2) The payment must be accompanied by:

(a) Copies of the financial statements for the partnership for its most recent fiscal year;

(b) An explanation of how the partnership estimated the fair value of the partner's interest in the partnership;

(c) An explanation of how the accrued interest was calculated;

(d) A statement of the dissenter's right to demand payment; and

(e) A copy of this article.

Legislative History

[1998 c 103 s 1008.]