(a) Unless otherwiseprovided in the articles of incorporation or a bylaw of the covered corporationadopted by the shareholders before a control share acquisition has occurred andsubject to G.S. 55‑6‑40, if control shares acquired in a controlshare acquisition are accorded voting rights and the holders of the controlshares have a majority of all voting power for the election of directors, allshareholders of the covered corporation (other than holders of control shares)have rights as prescribed in this section to have their shares redeemed by thecorporation at the fair value of those shares as of the day prior to the dateon which the vote was taken under G.S. 55‑9A‑05.
(b) If the notice ofmeeting at which voting rights are accorded to control shares contains thestatement required by G.S. 55‑9A‑04(3), a shareholder will not haveany right of redemption under this section unless he gives to the corporation,prior to or at the meeting of shareholders at which the voting rights to beaccorded to control shares are considered, written notice that if voting rightsare accorded to such shares he may ask for the redemption of his shareshereunder.
(c) As soon aspracticable after control shares held by persons having a majority of allvoting power for the election of directors have been accorded voting rights,the board of directors shall cause a notice to be sent to all shareholders ofthe corporation advising them of the facts and that if they gave the noticerequired by subsection (b) of this section they may have rights to have theirshares redeemed at the fair value of those shares pursuant to this section.
(d) Within 30 daysafter the date on which a shareholder receives such notice, such shareholdermay make written demand on the corporation for payment of the fair value of hisshares, and after such demand, if such shareholder has complied with the noticerequirement in subsection (b) of this section, the corporation shall redeem hisshares at their fair value within 30 days after the date on which thecorporation receives such shareholder's written demand for payment.
(e) As used in thissection, "fair value" means a value not less than the highest pricepaid per share by the acquiring person in the control share acquisition. (1987,c. 182, s. 1; 1989, c. 200, s. 1, c. 265, s. 1.)
(a) Unless otherwiseprovided in the articles of incorporation or a bylaw of the covered corporationadopted by the shareholders before a control share acquisition has occurred andsubject to G.S. 55‑6‑40, if control shares acquired in a controlshare acquisition are accorded voting rights and the holders of the controlshares have a majority of all voting power for the election of directors, allshareholders of the covered corporation (other than holders of control shares)have rights as prescribed in this section to have their shares redeemed by thecorporation at the fair value of those shares as of the day prior to the dateon which the vote was taken under G.S. 55‑9A‑05.
(b) If the notice ofmeeting at which voting rights are accorded to control shares contains thestatement required by G.S. 55‑9A‑04(3), a shareholder will not haveany right of redemption under this section unless he gives to the corporation,prior to or at the meeting of shareholders at which the voting rights to beaccorded to control shares are considered, written notice that if voting rightsare accorded to such shares he may ask for the redemption of his shareshereunder.
(c) As soon aspracticable after control shares held by persons having a majority of allvoting power for the election of directors have been accorded voting rights,the board of directors shall cause a notice to be sent to all shareholders ofthe corporation advising them of the facts and that if they gave the noticerequired by subsection (b) of this section they may have rights to have theirshares redeemed at the fair value of those shares pursuant to this section.
(d) Within 30 daysafter the date on which a shareholder receives such notice, such shareholdermay make written demand on the corporation for payment of the fair value of hisshares, and after such demand, if such shareholder has complied with the noticerequirement in subsection (b) of this section, the corporation shall redeem hisshares at their fair value within 30 days after the date on which thecorporation receives such shareholder's written demand for payment.
(e) As used in thissection, "fair value" means a value not less than the highest pricepaid per share by the acquiring person in the control share acquisition. (1987,c. 182, s. 1; 1989, c. 200, s. 1, c. 265, s. 1.)
(a) Unless otherwiseprovided in the articles of incorporation or a bylaw of the covered corporationadopted by the shareholders before a control share acquisition has occurred andsubject to G.S. 55‑6‑40, if control shares acquired in a controlshare acquisition are accorded voting rights and the holders of the controlshares have a majority of all voting power for the election of directors, allshareholders of the covered corporation (other than holders of control shares)have rights as prescribed in this section to have their shares redeemed by thecorporation at the fair value of those shares as of the day prior to the dateon which the vote was taken under G.S. 55‑9A‑05.
(b) If the notice ofmeeting at which voting rights are accorded to control shares contains thestatement required by G.S. 55‑9A‑04(3), a shareholder will not haveany right of redemption under this section unless he gives to the corporation,prior to or at the meeting of shareholders at which the voting rights to beaccorded to control shares are considered, written notice that if voting rightsare accorded to such shares he may ask for the redemption of his shareshereunder.
(c) As soon aspracticable after control shares held by persons having a majority of allvoting power for the election of directors have been accorded voting rights,the board of directors shall cause a notice to be sent to all shareholders ofthe corporation advising them of the facts and that if they gave the noticerequired by subsection (b) of this section they may have rights to have theirshares redeemed at the fair value of those shares pursuant to this section.
(d) Within 30 daysafter the date on which a shareholder receives such notice, such shareholdermay make written demand on the corporation for payment of the fair value of hisshares, and after such demand, if such shareholder has complied with the noticerequirement in subsection (b) of this section, the corporation shall redeem hisshares at their fair value within 30 days after the date on which thecorporation receives such shareholder's written demand for payment.
(e) As used in thissection, "fair value" means a value not less than the highest pricepaid per share by the acquiring person in the control share acquisition. (1987,c. 182, s. 1; 1989, c. 200, s. 1, c. 265, s. 1.)
