2019 Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 1. Business Corporations
Part 8. Merger, Consolidation,Share Exchange, and Sale of Assets(Repealed effective June 1, 2020)
35-1-834. Payment
35-1-834. (Temporary) Payment. (1) Except as provided in 35-1-836, 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 35-1-832 the amount the corporation estimates to be the fair value of the dissenter's shares plus accrued interest.
(2) The payment must be accompanied by:
(a) the corporation's balance sheet as of the end of a fiscal year ending not more than 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;
(d) a statement of the dissenter's right to demand payment under 35-1-837; and
(e) a copy of 35-1-826 through 35-1-839. (Repealed effective June 1, 2020--secs. 269, 274, Ch. 271, L. 2019.)
History: En. Sec. 141, Ch. 368, L. 1991.
