Notice of intent to demand payment

If proposed corporate action requiring appraisal rights under §§ 47-1A-1302 to 47-1A-1302.3 , inclusive, is submitted to a vote at a shareholders' meeting, a shareholder who wishes to assert appraisal rights with respect to any class or series of shares: (1) Must deliver to the corporation before the vote is taken written notice of the shareholder's intent to demand payment if the proposed action is effectuated; and (2) Must not vote, or cause or permit to be voted, any shares of such class or series in favor of the proposed action. A shareholder who does not satisfy the requirements of this section is not entitled to payment under §§ 47-1A-1301 to 47-1A-1331.2 , inclusive. Source: SL 2005, ch 239, § 288.