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Arizona Revised Statutes Title 10. Corporations and Associations § 10-1325. Payment

Current as of March 08, 2022 | Updated by FindLaw Staff

A. Except as provided in § 10-1327, as soon as the proposed corporate action is taken, or if such action is taken without a shareholder vote, on receipt of a payment demand, the corporation shall pay each dissenter who complied with § 10-1323 the amount the corporation estimates to be the fair value of the dissenter's shares plus accrued interest.

B. The payment shall be accompanied by all of the following:

1. The corporation's balance sheet as of the end of a fiscal year ending not more than sixteen months before the date of payment, an income statement for that year, a statement of changes in shareholders' equity for that year and the latest available interim financial statements, if any.

2. A statement of the corporation's estimate of the fair value of the shares.

3. An explanation of how the interest was calculated.

4. A statement of the dissenter's right to demand payment under § 10-1328.

5. A copy of this article.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 10. Corporations and Associations § 10-1325. Payment - last updated March 08, 2022 | https://codes.findlaw.com/az/title-10-corporations-and-associations/az-rev-st-sect-10-1325/

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