Section 351.925

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 351

Effective - 28 Aug 1990   

  351.925.  Right to demand payment — notification of fair value. — 1.  A dissenter may notify the corporation in writing of his own estimate of the fair value of his shares and demand payment of his estimate, less any payment under section 351.910, or reject the corporation's offer under section 351.920 and demand payment of the fair value of his shares due, if:

  (1)  The dissenter believes that the amount paid under section 351.910 or offered under section 351.920 is less than the fair value of his shares;

  (2)  The corporation fails to make payment under section 351.910 within sixty days after the date set for demanding payment; or

  (3)  The corporation, having failed to take the proposed action, does not return the deposited certificates or release the transfer restrictions imposed on uncertificated shares within sixty days after the date set for demanding payment.

  2.  A dissenter waives his right to demand payment under this section unless he notifies the corporation of his demand in writing under subsection 1 of this section within thirty days after the corporation made or offered payment for his shares.

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(L. 1990 H.B. 1432)