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Section 4-27-1323 - Duty to demand payment — Arkansas Law | CourtGPT
  1. Home/
  2. Laws/
  3. Arkansas/
  4. Title 4 - Business and Commercial Law (§§ 4-1-101 — 4-119-105)/
  5. Subtitle 3 - Corporations and Associations/
  6. Chapter 27 - Business Corporation Act of 1987 Sub/
  7. Subchapter 13 - Dissenters' Rights/
  8. Part B - Procedure for Exercise of Dissenters' Rights/
  9. Section 4-27-1323 - Duty to demand payment
Arkansas Legal Code
(a) A shareholder sent a dissenters' notice described in § 4-27-1322 must demand payment, certify whether he acquired beneficial ownership of the shares before the date required to be set forth in the dissenters' notice pursuant to § 4-27-1322(b)(3), and deposit his certificates in accordance with the terms of the notice.(b) The shareholder who demands payment and deposits his share certificates under subsection (a) of this section retains all other rights of a shareholder until these rights are cancelled or modified by the taking of the proposed corporate action.(c) A shareholder who does not demand payment or deposit his share certificates where required, each by the date set in the dissenters' notice, is not entitled to payment for his shares under this subchapter.Acts 1987, No. 958, § 64-1307.

Section 4-27-1323 - Duty to demand payment

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