13.1-739 - Procedure if shareholder dissatisfied with payment or offer. - Virginia Statutes

§ 13.1-739. Procedure if shareholder dissatisfied with payment or offer.

A. A shareholder paid pursuant to § 13.1-737 who is dissatisfied with theamount of the payment must notify the corporation in writing of thatshareholder's stated estimate of the fair value of the shares and demandpayment of that estimate plus interest (less any payment under § 13.1-737). Ashareholder offered payment under § 13.1-738 who is dissatisfied with thatoffer must reject the offer and demand payment of the shareholder's estimateof the fair value of the shares plus interest.

B. A shareholder who fails to notify the corporation in writing of thatshareholder's demand to be paid the shareholder's stated estimate of the fairvalue plus interest under subsection A within 30 days after receiving thecorporation's payment or offer of payment under § 13.1-737 or 13.1-738,respectively, waives the right to demand payment under this section and shallbe entitled only to the payment made or offered pursuant to those respectivesections.

(Code 1950, §§ 13-85, 13.1-75, 13.1-78; 1956, c. 428; 1968, c. 733; 1972, c.425; 1975, c. 500; 1984, c. 613; 1985, c. 522; 2005, c. 765.)