Louisiana Revised Statutes 12:1-1326 – Procedure if shareholder dissatisfied with payment or offer
Terms Used In Louisiana Revised Statutes 12:1-1326
- 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.
A. A shareholder paid pursuant to La. Rev. Stat. 12:1-1324 who is dissatisfied with the amount of the payment must notify the corporation in writing of that shareholder’s estimate of the fair value of the shares and demand payment of that estimate plus interest, less any payment under La. Rev. Stat. 12:1-1324. A shareholder offered payment under La. Rev. Stat. 12:1-1325 who is dissatisfied with that offer must reject the offer and demand payment of the shareholder’s stated estimate of the fair value of the shares plus interest.
B. 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 A of this Section within thirty days after receiving the corporation’s payment or offer of payment under La. Rev. Stat. 12:1-1324 or 1-1325, respectively, waives the right to demand payment under this Section and shall be entitled only to the payment made or offered pursuant to those respective Sections.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.