17-5418. Shareholder's rights terminate on redemption date.
17-5418
17-5418. Shareholder's rights terminate on redemption date.
If the aforesaid notice of redemption shall have been duly given, and if
on or before the redemption date the funds necessary for such redemption
shall have been set aside so as to be and continue to be available
therefor, dividends upon shares called for redemption shall cease to accrue
from and after the dividend date specified as the redemption date, and all
rights with respect to such shares shall forthwith, after such redemption
date, terminate, except only the right of the shareholder of record to
receive the redemption price without interest.
History: L. 1943, ch. 133, § 76; July 1.