180.1321 Notice of intent to demand payment. - Wisconsin Statutes

180.1321

180.1321 Notice of intent to demand payment.

180.1321(1)

(1) If proposed corporate action creating dissenters' rights under s. 180.1302 is submitted to a vote at a shareholders' meeting, a shareholder or beneficial shareholder who wishes to assert dissenters' rights shall do all of the following:

180.1321(1)(a)

(a) Deliver to the issuer corporation before the vote is taken written notice that complies with s. 180.0141 of the shareholder's or beneficial shareholder's intent to demand payment for his or her shares if the proposed action is effectuated.

180.1321(1)(b)

(b) Not vote his or her shares in favor of the proposed action.

180.1321(2)

(2) A shareholder or beneficial shareholder who fails to satisfy sub. (1) is not entitled to payment for his or her shares under ss. 180.1301 to 180.1331.

180.1321 - ANNOT.

History: 1989 a. 303.