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the Kentucky Revised Statutes
2006 Kentucky Revised Statutes - .250 Payment.
271B.13-250 Payment. (1) Except as provided in KRS
271B.13-270, as soon as the proposed corporate action is taken, or
upon receipt of a payment demand, the corporation shall pay each
dissenter who complied with KRS 271B.13-230 the amount the
corporation estimates to be the fair value of his shares, plus
accrued interest. (2) The payment shall be accompanied by: (a)
The corporation's balance sheet as of the end of a fiscal
year ending not more than sixteen (16) months before the date of
payment, an income statement for that year, a statement of changes
in shareholders' equity for that year, and the latest available
interim financial statements, if any; (b) A statement of the
corporation's estimate of the fair value of the shares; (c)
An explanation of how the interest was calculated; and (d)
A statement of the dissenter's right to demand payment under
KRS 271B.13- 280. Effective: January 1, 1989 History:
Created 1988 Ky. Acts ch. 23, sec. 131, effective January 1, 1989.
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