2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.1322 - APPRAISAL NOTICE AND FORM.

        490.1322  APPRAISAL NOTICE AND FORM.
         1.  If proposed corporate action requiring appraisal rights under
      section 490.1302, subsection 1, becomes effective, the corporation
      must deliver a written appraisal notice and form required by
      subsection 2, paragraph "a", to all shareholders who satisfied
      the requirements of section 490.1321.  In the case of a merger under
      section 490.1105, the parent must deliver a written appraisal notice
      and form to all record shareholders who may be entitled to assert
      appraisal rights.
         2.  The appraisal notice must be sent no earlier than the date the
      corporate action became effective and no later than ten days after
      such date and must do all of the following:
         a.  Be accompanied by a form that specifies the date of the
      first announcement to shareholders of the principal terms of the
      proposed corporate action and requires the shareholder asserting
      appraisal rights to certify whether or not beneficial ownership of
      those shares for which appraisal rights are asserted was acquired
      before that date, and that the shareholder did not vote for the
      transaction.
         b.  State all of the following:
         (1)  Where the form must be sent and where certificates for
      certificated shares must be deposited and the date by which those
      certificates must be deposited, which date shall not be earlier than
      the date for receiving the required form under subparagraph (2).
         (2)  A date by which the corporation must receive the form, which
      date shall not be fewer than forty nor more than sixty days after the
      date the appraisal notice and form are sent under subsection 1, and
      state that the shareholder shall have waived the right to demand
      appraisal with respect to the shares unless the form is received by
      the corporation by such specified date.
         (3)  The corporation's estimate of the fair value of the shares.
         (4)  That, if requested in writing, the corporation will provide,
      to the shareholder so requesting, within ten days after the date
      specified in subparagraph (2) the number of shareholders who return
      the forms by the specified date and the total number of shares owned
      by them.
         (5)  The date by which the notice to withdraw under section
      490.1323 must be received, which date must be within twenty days
      after the date specified in subparagraph (2).
         c.  Be accompanied by a copy of this division.  

         89 Acts, ch 288, §136; 91 Acts, ch 211, §8; 2002 Acts, ch 1154,
      §83, 125
         Referred to in § 490.704, 490.1301, 490.1303, 490.1320, 490.1323,
      490.1324, 490.1325, 490.1330, 490.1331