§ 55-13-23. Duty to demand payment. - North Carolina Statutes

§55‑13‑23.  Duty to demand payment.

(a)        A shareholder senta dissenters' notice described in G.S. 55‑13‑22 must demand paymentand deposit his share certificates in accordance with the terms of the notice.

(b)        The shareholder whodemands payment and deposits his share certificates under subsection (a)retains all other rights of a shareholder until these rights are cancelled ormodified by the taking of the proposed corporate action.

(c)        A shareholder whodoes not demand payment or deposit his share certificates where required, eachby the date set in the dissenters' notice, is not entitled to payment for hisshares 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.)