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District of Columbia · Through 2026-08-20 (D.C. Law 26-175)

D.C. Code § 29-311.11: Notice of intent to demand payment and consequences of voting or consenting.

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Where this section sits in the code
  1. Title 29. Business Organizations. [Enacted title]
  2. Chapter 3. Business Corporations.
  3. Subchapter XI. Appraisal Rights.
  4. 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

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