GroundRules
Ala. Code § 10A-2-13.21: Notice of Intent to Demand Payment.
Where this section sits in the code
- Title 10A Alabama Business and Nonprofit Entities Code.
- Chapter 2 Business Corporations.
- Article 13 Dissenters’ Rights.
- Division B Procedure for Exercise of Dissenters’ Rights.
REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) If proposed corporate action creating dissenters’ rights under Section 10A-2-13.02 is submitted to a vote at a shareholder’s meeting, a shareholder who wishes to assert dissenters’ rights (1) must deliver to the corporation before the vote is taken written notice of his or her intent to demand payment or his or her shares if the proposed action is effectuated; and (2) must not vote his or her shares in favor of the proposed action.
(b) A shareholder who does not satisfy the requirements of subsection (a) is not entitled to payment for his or her shares under this article.
Collected 2026-09-03T14:01:53Z. Source file · JSON