§ 55-13-21. Notice of intent to demand payment. - North Carolina Statutes

§55‑13‑21.  Notice of intent to demand payment.

(a)        If proposedcorporate action creating dissenters' rights under G.S. 55‑13‑02 issubmitted to a vote at a shareholders' meeting, a shareholder who wishes toassert dissenters' rights:

(1)        Must give to thecorporation, and the corporation must actually receive, before the vote istaken written notice of his intent to demand payment for his shares if theproposed action is effectuated; and

(2)        Must not vote hisshares in favor of the proposed action.

(b)        A shareholder whodoes not satisfy the requirements of subsection (a) is not entitled to paymentfor his shares under this Article. (1925, c. 77, s. 1; 1943, c.270; G.S., s. 55‑167; 1955, c. 1371, s. 1; 1969, c. 751, s. 39; 1973, c.469, ss. 36, 37; 1989, c. 265, s. 1.)