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KRS 271B.13-210

Notice of intent to demand payment

Known as the Kentucky Business Corporation Act

The act spans §§ 271B.10-010 to 271B.8-580 (197 sections).

Applied in 1 court decision — leading case Brooks v. Brooks Furniture Mfgrs., Inc. (2010)

Most recently applied in Brooks v. Brooks Furniture Mfgrs., Inc. (October 2010)

Effective: January 1, 1989 History: Created 1988 Ky

(1) If proposed corporate action creating dissenters' rights under KRS 271B.13-020 is submitted to a vote at a shareholders' meeting, a shareholder who wishes to assert dissenters' rights:

(a) Shall deliver to the corporation before the vote is taken written notice of his intent to demand payment for his shares if the proposed action is effectuated; and (b) Shall not vote his shares in favor of the proposed action.

(2) A shareholder who does not satisfy the requirements of subsection (1) of this section shall not be entitled to payment for his shares under this chapter.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.