2009 North Carolina Code
Chapter 55 - North Carolina Business Corporation Act.
§ 55-13-22. Dissenters' notice.

§ 55‑13‑22.  Dissenters' notice.

(a)        If proposed corporate action creating dissenters' rights under G.S. 55‑13‑02 is approved at a shareholders' meeting, the corporation shall mail by registered or certified mail, return receipt requested, a written dissenters' notice to all shareholders who satisfied the requirements of G.S. 55‑13‑21.

(b)        The dissenters' notice must be sent no later than 10 days after shareholder approval, or if no shareholder approval is required, after the approval of the board of directors, of the corporate action creating dissenters' rights under G.S. 55‑13‑02, and must:

(1)        State where the payment demand must be sent and where and when certificates for certificated shares must be deposited;

(2)        Inform holders of uncertificated shares to what extent transfer of the shares will be restricted after the payment demand is received;

(3)        Supply a form for demanding payment;

(4)        Set a date by which the corporation must receive the payment demand, which date may not be fewer than 30 nor more than 60 days after the date the subsection (a) notice is mailed; and

(5)        Be accompanied by a copy of 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; 1997‑485, s. 4; 2001‑387, s. 27; 2002‑58, s. 3.)