Notice of Intent to Demand Payment

1. Law
2. Georgia Code
3. Corporations, Partnerships, and Associations
4. Business Corporations
5. Dissenters' Rights
6. Procedure for Exercise of Dissenters' Rights
7. Notice of Intent to Demand Payment

1. If proposed corporate action creating dissenters' rights under Code Section 14-2-1302 is submitted to a vote at a shareholders' meeting, a record shareholder who wishes to assert dissenters' rights:
   1. Must deliver to the corporation before the vote is taken written notice of his intent to demand payment for his shares if the proposed action is effectuated; and
   2. Must not vote his shares in favor of the proposed action.
2. A record shareholder who does not satisfy the requirements of subsection (a) of this Code section is not entitled to payment for his shares under this article.

(Code 1981, §14-2-1321, enacted by Ga. L. 1988, p. 1070, § 1.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 18A Am. Jur. 2d, Corporations, §§ 2192 et seq.

C.J.S.

- 19 C.J.S., Corporations, § 900 et seq.

ALR.

- Timeliness and sufficiency of dissenting stockholder's notice of his objection to consolidation or merger and of his demand for payment for his shares, 40 A.L.R.3d 260.

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