Notice of Intent to Demand Payment

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

1. If a corporate action specified in § 48-23-102(a) is submitted to a vote at a shareholders' meeting, a shareholder who wishes to assert dissenters' rights with respect to shares for which dissenters' rights may be asserted under this chapter:
   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 such shares in favor of the proposed action.
2. If a corporate action specified in § 48-23-102(a) is to be approved by less than unanimous written consent, a shareholder who wishes to assert dissenters' rights with respect to shares for which dissenters' rights may be asserted under this chapter must not sign a consent in favor of the proposed action with respect to such shares.
3. A shareholder who fails to satisfy the requirements of subsection (a) or subsection (b) is not entitled to payment under this chapter.

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