Washington Code 25.10.866 – Payment of fair value — Requirements for compliance
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(1) Within thirty days of the later of the date the proposed merger becomes effective, or the payment demand is received, the limited partnership shall pay each dissenter who complied with RCW 25.10.856 the amount the limited partnership estimates to be the fair value of the partnership interest, plus accrued interest.
Terms Used In Washington Code 25.10.866
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2) The payment must be accompanied by:
(a) Copies of any financial statements for the most recent fiscal year maintained as required by RCW 25.10.091;
(b) An explanation of how the limited partnership estimated the fair value of the partnership interest;
(c) An explanation of how the accrued interest was calculated;
(d) A statement of the dissenter’s right to demand payment; and
(e) A copy of this article.