Section 351.895

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 351

Effective - 28 Aug 1990   

  351.895.  Written dissenters' notice — contents. — 1.  If proposed corporation^* action creating dissenters' rights under section 351.875 is authorized at a shareholders' meeting, the corporation shall deliver a written dissenters' notice to all shareholders who satisfied the requirements of section 351.890.

  2.  The dissenters' notice shall be sent no later than ten days after approval by the shareholders, or if the corporate action was taken without approval of the shareholders, then ten days after the corporate action was taken.  The dissenters' notice shall:

  (1)  State where the payment demand shall be sent and where and when certificates for certificated shares shall be deposited;

  (2)  Inform holders of uncertificated shares to what extent transfer of the shares shall be restricted after the payment demand is received;

  (3)  Supply a form for demanding payment that includes the date of the first announcement to news media or to shareholders of the terms of the proposed corporate action and requires that the person asserting dissenters' rights certify whether or not he acquired beneficial ownership of the shares before that date;

  (4)  Set a date by which the corporation shall receive the payment demand and when certificates for uncertificated shares shall be deposited, neither of which dates may be fewer than thirty nor more than sixty days after the date the notice provided for in subsection 1 of this section is delivered; and

  (5)  Be accompanied by a copy of sections 351.870 to 351.930.

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(L. 1990 H.B. 1432)

*Word "corporation" appears in original rolls.