A record shareholder may assert dissenters' rights as to fewer than all the shares registered in his name only if he dissents with respect to all shares beneficially owned by any one beneficial shareholder and notifies the corporation in writing of the name and address of each person on whose behalf he asserts dissenters' rights. The rights of a partial dissenter under this Code section are determined as if the shares as to which he dissents and his other shares were registered in the names of different shareholders.
(Code 1981, §14-2-1303, enacted by Ga. L. 1988, p. 1070, § 1.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 19 Am. Jur. 2d, Corporations, §§ 2192 et seq.
ALR.
- Status of owners of nonregistered stock as "stockholders" within state statute relating to merger or consolidation or reorganization of corporation, or sale of its entire assets, 158 A.L.R. 983.
PART 2 PROCEDURE FOR EXERCISE OF DISSENTERS' RIGHTS
JUDICIAL DECISIONS
Editor's notes.- In light of the similarity of the statutory provisions, decisions under former Code Section 14-2-251, are included in the annotations for this Code section.
Accepting benefit of merger precludes attack on its validity.
- Minority shareholders who failed to appeal the denial of their motion to enjoin a merger and chose to tender their shares at the offered price and accept the benefit of the merger, thereby abandoned their statutory rights and were barred from subsequently attacking the validity of the merger. Columbus Mills, Inc. v. Kahn, 259 Ga. 80, 377 S.E.2d 153 (1989) (decided under former § 14-2-251).
RESEARCH REFERENCES
Am. Jur. 2d.
- 19 Am. Jur. 2d, Corporations, §§ 2192 et seq.