17-1296.   Same; dissenters' rights, notice.(a) Unless otherwise provided in a corporation's articles ofincorporation or bylaws before a control share acquisition has occurred orhas been proposed, in the event that control shares acquired in a controlshare acquisition are accorded full voting rights and the acquiring personhas acquired control shares with a majority or more of all voting power,each shareholder of the issuing publiccorporation who objected thereto in writing and whose shares either werenot entitled to vote or were not voted in favor of the control shareacquisition and who files such written objection with the corporationbefore the taking of the vote on the control share acquisitionshall have dissenters' rights asprovided in K.S.A. 17-6712, and amendments thereto.

      (b)   As soon as practicable after these events have occurred, the boardof directors shall cause a notice to be sent to all shareholders of thecorporation advising them of the facts and that they have dissenters'rights to receive the fair value of their shares pursuant to K.S.A.17-6712, and amendments thereto.

      (c)   As used in this section, "fair value" means a value not less thanthe highest price paid per share by the acquiring person in the control share acquisition.

      History:   L. 1988, ch. 93, § 11; April 21.