§ 3-212. Surrender of stock

Latest version.

   The successor is not required to pay for the stock of an objecting stockholder or to pay a judgment rendered against it in a proceeding for an appraisal unless, simultaneously with payment:

   (1) The certificates representing the stock are surrendered to it, indorsed in blank, and in proper form for transfer; or

   (2) Satisfactory evidence of the loss or destruction of the certificates and sufficient indemnity bond are furnished.

HISTORY: An. Code 1957, art. 23, § 73; 1975, ch. 311, § 2.

                    
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