Section 3-719 - Right to fair value. - Maryland Statutes

§ 3-719. Right to fair value.
 

(a)  General rule.- The owner of shares of stock that were voted against a consolidation, merger, or transfer of assets is entitled to receive the fair value of those shares, in cash, if the transaction becomes effective. 

(b)  Procedure by stockholder.- A stockholder who desires to receive payment of the fair value for shares under this section, within 30 days after the transaction becomes effective, shall: 

(1) Make a written demand on the successor for payment; and 

(2) Surrender the stock certificates. 
 

[An. Code 1957, art. 11, §§ 109, 113; 1980, ch. 33, § 2.]