2006 Code of Virginia § 13.1-732 - Notice of appraisal rights

13.1-732. Notice of appraisal rights.

A. If proposed corporate action described in subsection A of 13.1-730 is tobe submitted to a vote at a shareholders' meeting, the meeting notice shallstate that the corporation has concluded that shareholders are, are not ormay be entitled to assert appraisal rights under this article.

If the corporation concludes that appraisal rights are or may be available, acopy of this article and a statement of the corporation's position as to theavailability of appraisal rights shall accompany the meeting notice sent tothose record shareholders entitled to exercise appraisal rights.

B. In a merger pursuant to 13.1-719, the parent corporation shall notify inwriting all record shareholders of the subsidiary who are entitled to assertappraisal rights that the corporate action became effective. Such noticeshall be sent within 10 days after the corporate action became effective andinclude the materials described in 13.1-734.

(1985, c. 522; 2005, c. 765.)