New Hampshire Revised Statutes 304-C:166 – Limited Liability Companies’ Making of Payments to Dissenting Members
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I. Except as provided in N.H. Rev. Stat. § 304-C:168, as soon as the proposed limited liability company action is effectuated, or upon receipt of a payment demand, whichever is later, the limited liability company shall pay each dissenter who complied with N.H. Rev. Stat. § 304-C:165 the amount the limited liability company estimates to be the fair value of such dissenter’s membership rights, plus accrued interest.
II. The payment must be accompanied by:
(a) The limited liability company’s 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, and the latest available interim financial statements, if any;
(b) A statement of the limited liability company’s estimate of the fair value of the membership rights;
(c) An explanation of how the value of the membership rights was calculated;
(d) A statement of the dissenter’s right to demand payment under N.H. Rev. Stat. § 304-C:169; and
(e) A copy of this subdivision, if the limited liability company has not previously sent a copy of this subdivision to the member under N.H. Rev. Stat. § 304-C:162 or N.H. Rev. Stat. § 304-C:164.
II. The payment must be accompanied by:
Terms Used In New Hampshire Revised Statutes 304-C:166
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(a) The limited liability company’s 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, and the latest available interim financial statements, if any;
(b) A statement of the limited liability company’s estimate of the fair value of the membership rights;
(c) An explanation of how the value of the membership rights was calculated;
(d) A statement of the dissenter’s right to demand payment under N.H. Rev. Stat. § 304-C:169; and
(e) A copy of this subdivision, if the limited liability company has not previously sent a copy of this subdivision to the member under N.H. Rev. Stat. § 304-C:162 or N.H. Rev. Stat. § 304-C:164.