§ 17-16-1324 — Payment

Wyoming § 17-16-1324

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

Text

(a) Except as provided in W.S. 17-16-1325, within one
hundred twenty (120) days after the form required by W.S.
17-16-1322(b)(ii)(B) is due, the corporation shall pay in cash
or other agreed upon consideration to those shareholders who
complied with W.S. 17-16-1323 the amount the corporation
estimates to be the fair value of his shares, plus interest.
(b) The payment to each shareholder pursuant to subsection
(a) of this section shall be accompanied by:
(i) The annual financial statements specified in W.S.
17-16-1620(a) of the corporation that issued the shares to be
appraised, which shall be of a date ending not more than sixteen
(16) months before the date of payment and shall comply with
W.S. 17-16-1620(b), provided that if such annual financial
statements are not reasonably available, the corporation shall
provide reasonably equivalent financial information. The
corporation shall also provide the latest available quarterly
financial statements, if any;
(ii) A statement of the corporation's estimate of the
fair value of the shares which estimate shall equal or exceed
the corporation's estimate given pursuant to W.S.
17-16-1322(b)(ii)(C);
(iii) A statement that shareholders described in
subsection (a) of this section have the right to demand further
payment under W.S. 17-16-1326 and that if any shareholder does
not do so within the time period specified therein, the
shareholder shall be deemed to have accepted such payment in
full satisfaction of the corporation's obligations under this
article.