Montana Code 35-14-1326. Procedure if shareholder dissatisfied with payment or offer
35-14-1326. Procedure if shareholder dissatisfied with payment or offer. (1) A shareholder paid pursuant to 35-14-1324 who is dissatisfied with the amount of the payment shall notify the corporation in writing of that shareholder’s estimate of the fair value of the shares and demand payment of that estimate, less any payment under 35-14-1324, plus interest. A shareholder offered payment under 35-14-1325 who is dissatisfied with that offer may reject the offer and demand payment of the shareholder’s stated estimate of the fair value of the shares, plus interest.
Terms Used In Montana Code 35-14-1326
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Writing: includes printing. See Montana Code 1-1-203
(2)A shareholder who fails to notify the corporation in writing of that shareholder’s demand to be paid the shareholder’s stated estimate of the fair value plus interest under subsection (1) within 30 days after receiving the corporation’s payment or offer of payment under 35-14-1324 or 35-14-1325, respectively, waives the right to demand payment under this section and is entitled only to the payment made or offered pursuant to those respective sections.