10-1301. Definitions
In this article, unless the context otherwise requires:
1. "Beneficial shareholder" means the person who is a beneficial owner of shares
held in a voting trust or by a nominee as the record shareholder.
2. "Corporation" means the issuer of the shares held by a dissenter before the
corporate action or the surviving or acquiring corporation by merger or share exchange of
that issuer.
3. "Dissenter" means a shareholder who is entitled to dissent from corporate action
under section 10-1302 and who exercises that right when and in the manner required by
article 2 of this chapter.
4. "Fair value" with respect to a dissenter's shares means the value of the shares
immediately before the effectuation of the corporate action to which the dissenter
objects, excluding any appreciation or depreciation in anticipation of the corporate
action unless exclusion is inequitable.
5. "Interest" means interest from the effective date of the corporate action until
the date of payment at the average rate currently paid by the corporation on its
principal bank loans or, if none, at a rate that is fair and equitable under the
circumstances.
6. "Record shareholder" means the person in whose name shares are registered in the
records of a corporation or the beneficial owner of shares to the extent of the rights
granted by a nominee certificate on file with a corporation.
7. "Shareholder" means the record shareholder or the beneficial shareholder.
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