Notice of intent to demand payment and consequences of voting or consenting

1. Law
2. Mississippi Code
3. Corporations, Associations, and Partnerships
4. Mississippi Business Corporation Act
5. Appraisal Rights
6. Procedure for Exercise of Appraisal Rights
7. Notice of intent to demand payment and consequences of voting or consenting

If a corporate action specified in Section 79-4-13.02(a) is submitted to a vote at a shareholders' meeting, a shareholder who wishes to assert appraisal rights with respect to any class or series of shares:

1. Must deliver to the corporation, before the vote is taken, written notice of the shareholder's intent to demand payment if the proposed action is effectuated; and
2. Must not vote, or cause or permit to be voted, any shares of such class or series in favor of the proposed action.

If a corporate action specified in Section 79-4-13.02(a) is to be approved by less than unanimous written consent, a shareholder who wishes to assert appraisal rights with respect to any class or series of shares must not sign a consent in favor of the proposed action with respect to that class or series of shares.

A shareholder who fails to satisfy the requirements of subsection (a) or (b) is not entitled to payment under this article.

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