§ 3-718. Successor may offer fair value

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(a) In general. -- The successor in a consolidation, merger, or transfer of assets may offer to pay in cash to the objecting stockholders of a constituent bank not more than what it considers to be the fair value of their shares of stock as of the time of the stockholders' meeting approving the transaction.

(b) Effect of acceptance. -- An objecting stockholder who accepts the offer is barred from receiving the appraised fair value of the shares of stock under § 3-719 of this subtitle.

HISTORY: An. Code 1957, art. 11, § 109, 113; 1980, ch. 33, § 2.

                    
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