D.C. Code § 29-311.11: Notice of intent to demand payment and consequences of voting or consenting.
Where this section sits in the code
- Title 29. Business Organizations. [Enacted title]
- Chapter 3. Business Corporations.
- Subchapter XI. Appraisal Rights.
- Part B. Procedure for Exercise of Appraisal Rights.
(a)
If a corporate action specified in § 29-311.02(a) is submitted to a vote at a shareholders’ meeting, a shareholder that wishes to assert appraisal rights with respect to any class or series of shares shall:
(1)
Deliver to the corporation, before the vote is taken, written notice of the shareholder’s intent to demand payment if the proposed action is effectuated; and
(2)
Not vote, or cause or permit to be voted, any shares of such class or series in favor of the proposed action.
(b)
If a corporate action specified in § 29-311.02(a) is to be approved by less than unanimous written consent, a shareholder that wishes to assert appraisal rights with respect to any class or series of shares shall not sign a consent in favor of the proposed action with respect to that class or series of shares.
(c)
A shareholder that fails to satisfy the requirements of subsection (a) or (b) of this section shall not be entitled to payment under this subchapter.
Collected 2026-08-29T05:44:07Z. Source file · JSON