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Arizona Revised Statutes Title 10. Corporations and Associations § 10-1328. Procedure if shareholder dissatisfied with payment or offer

Current as of January 01, 2025 | Updated by Findlaw Staff

A. A dissenter may notify the corporation in writing of the dissenter's own estimate of the fair value of the dissenter's shares and amount of interest due and either demand payment of the dissenter's estimate, less any payment under § 10-1325, or reject the corporation's offer under § 10-1327 and demand payment of the fair value of the dissenter's shares and interest due, if either:

1. The dissenter believes that the amount paid under § 10-1325 or offered under § 10-1327 is less than the fair value of the dissenter's shares or that the interest due is incorrectly calculated.

2. The corporation fails to make payment under § 10-1325 within sixty days after the date set for demanding payment.

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

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

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 10. Corporations and Associations § 10-1328. Procedure if shareholder dissatisfied with payment or offer - last updated January 01, 2025 | https://codes.findlaw.com/az/title-10-corporations-and-associations/az-rev-st-sect-10-1328/

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