2009 North Carolina Code
Chapter 55 - North Carolina Business Corporation Act.
§ 55-13-25. Payment.

§ 55‑13‑25.  Payment.

(a)        As soon as the proposed corporate action is taken, or within 30 days after receipt of a payment demand, the corporation shall pay each dissenter who complied with G.S. 55‑13‑23 the amount the corporation estimates to be the fair value of his shares, plus interest accrued to the date of payment.

(b)        The payment shall be accompanied by:

(1)        The corporation's most recent available 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 cash flows for that year, and the latest available interim financial statements, if any;

(2)        An explanation of how the corporation estimated the fair value of the shares;

(3)        An explanation of how the interest was calculated;

(4)        A statement of the dissenter's right to demand payment under G.S. 55‑13‑28; and

(5)        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; c. 770, s. 69; 1997‑202, s. 2.)