10-1328. Procedure if shareholder dissatisfied
with payment or offer
A. A dissenter may notify the corporation in writing of the dissenter's own
estimate of the fair value of the dissenter's shares and amount of interest due and
either demand payment of the dissenter's estimate, less any payment under section
10-1325, or reject the corporation's offer under section 10-1327 and demand payment of
the fair value of the dissenter's shares and interest due, if either:
1. The dissenter believes that the amount paid under section 10-1325 or offered
under section 10-1327 is less than the fair value of the dissenter's shares or that the
interest due is incorrectly calculated.
2. The corporation fails to make payment under section 10-1325 within sixty days
after the date set for demanding payment.
3. The corporation, having failed to take the proposed action, does not return the
deposited certificates or does not release the transfer restrictions imposed on
uncertificated shares within sixty days after the date set for demanding payment.
B. A dissenter waives the right to demand payment under this section unless the
dissenter notifies the corporation of the dissenter's demand in writing under subsection
A of this section within thirty days after the corporation made or offered payment for
the dissenter's shares.
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