§ 17-16-1323 — Perfection of rights; right to withdraw

Wyoming § 17-16-1323

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 16: WYOMING BUSINESS CORPORATION ACT
• Art. 13: APPRAISAL RIGHTS

Text

(a) A shareholder who receives notice pursuant to W.S.
17-16-1322 and who wishes to exercise appraisal rights shall
sign and return the form sent by the corporation and, in the
case of certificated shares, deposit his certificates in
accordance with the terms of the notice by the date referred to
in the notice pursuant to W.S. 17-16-1322(b)(ii)(B). In
addition, if applicable, the shareholder shall certify on the
form whether the beneficial owner of such shares acquired
beneficial ownership of the shares before the date required to
be set forth in the notice pursuant to W.S. 17-16-1322(b)(i).
If a shareholder fails to make this certification, the
corporation may elect to treat the shareholder's shares as after
acquired shares under W.S. 17-16-1324. Once a shareholder
deposits that shareholder's certificates or, in the case of
uncertificated shares, returns the signed forms, that
shareholder loses all rights as a shareholder, unless the
shareholder withdraws pursuant to subsection (b) of this
section.
(b) The shareholder who has complied with subsection (a)
of this section may nevertheless decline to exercise appraisal
rights and withdraw from the appraisal process by so notifying
the corporation in writing by the date set forth in the
appraisal notice pursuant to W.S. 17-16-1322(b)(ii)(E). A
shareholder who fails to so withdraw from the appraisal process
may not thereafter withdraw without the corporation's written
consent.
(c) A shareholder who does not sign and return the form
and, in the case of certificated shares, deposit his share
certificates where required, each by the date set forth in the
notice described in W.S. 17-16-1322(b), is not entitled to
payment under this article.