There Is a Newer Version
of
the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 13 Dissenters' Rights
271B.13.250 Payment.
Download pdf
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 <br>dissenter who complied with KRS 271B.13-230 the amount the corporation <br>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 <br>that year, a statement of changes in shareholders' equity for that year, and the <br>latest available interim financial statements, if any;
(b) A statement of the corporation's estimate of the fair value of the shares; <br>(c) An explanation of how the interest was calculated; and <br>(d) A statement of the dissenter's right to demand payment under KRS 271B.13-
280.
Effective: January 1, 1989 <br>History: Created 1988 Ky. Acts ch. 23, sec. 131, effective January 1, 1989.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
