2009 North Carolina Code
Chapter 55 - North Carolina Business Corporation Act.
§ 55-13-21. Notice of intent to demand payment.
§ 55‑13‑21. Notice of intent to demand payment.
(a) If proposed corporate action creating dissenters' rights under G.S. 55‑13‑02 is submitted to a vote at a shareholders' meeting, a shareholder who wishes to assert dissenters' rights:
(1) Must give to the corporation, and the corporation must actually receive, before the vote is taken written notice of his intent to demand payment for his shares if the proposed action is effectuated; and
(2) Must not vote his shares in favor of the proposed action.
(b) A shareholder who does not satisfy the requirements of subsection (a) is not entitled to payment for his shares under this Article. (1925, c. 77, s. 1; 1943, c. 270; G.S., s. 55‑167; 1955, c. 1371, s. 1; 1969, c. 751, s. 39; 1973, c. 469, ss. 36, 37; 1989, c. 265, s. 1.)
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