§ 3-719. Right to fair value

Latest version.

   (a) General rule. -- The owner of shares of stock that were voted against a consolidation, merger, or transfer of assets is entitled to receive the fair value of those shares, in cash, if the transaction becomes effective.

(b) Procedure by stockholder. -- A stockholder who desires to receive payment of the fair value for shares under this section, within 30 days after the transaction becomes effective, shall:

   (1) Make a written demand on the successor for payment; and

   (2) Surrender the stock certificates.

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

                    
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