§ 55-13-25. Payment. - North Carolina Statutes

§55‑13‑25.  Payment.

(a)        As soon as theproposed corporate action is taken, or within 30 days after receipt of apayment demand, the corporation shall pay each dissenter who complied with G.S.55‑13‑23 the amount the corporation estimates to be the fair valueof his shares, plus interest accrued to the date of payment.

(b)        The payment shallbe accompanied by:

(1)        The corporation'smost recent available balance sheet as of the end of a fiscal year ending notmore than 16 months before the date of payment, an income statement for thatyear, a statement of cash flows for that year, and the latest available interimfinancial statements, if any;

(2)        An explanation ofhow the corporation estimated the fair value of the shares;

(3)        An explanation ofhow the interest was calculated;

(4)        A statement of thedissenter's right to demand payment under G.S. 55‑13‑28; and

(5)        A copy of thisArticle. (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; c. 770, s. 69; 1997‑202, s. 2.)