S.D. Codified Laws § 47-1A-1325.1
This is the official text of S.D. Codified Laws § 47-1A-1325.1, part of South Dakota’s Codified Laws — part of the compiled statutory law of South Dakota, published by the state as "Codified Laws." Browse the sections below, each linked to its official government source.
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Notice required upon withholding of payment for after-acquired shares
Official statutory text
If the corporation elected to withhold payment under § 47-1A-1325 , the corporation must, within thirty days after the form required by subsection 47-1A-1322.1 (2)(b) is due, notify all shareholders who are described in § 47-1A-1325 :
(1) Of the information required by subdivision 47-1A-1324(1);
(2) Of the corporation's estimate of fair value pursuant to subdivision 47-1A-1324(2);
(3) That they may accept the corporation's estimate of fair value, plus interest, in full satisfaction of their demands or demand appraisal under § 47-1A-1326 ;
(4) That those shareholders who wish to accept such offer must so notify the corporation of their acceptance of the corporation's offer within thirty days after receiving the offer; and
(5) That those shareholders who do not satisfy the requirements for demanding appraisal under § 47-1A-1326 shall be deemed to have accepted the corporation's offer.
Source: SL 2005, ch 239, § 296.
(1) Of the information required by subdivision 47-1A-1324(1);
(2) Of the corporation's estimate of fair value pursuant to subdivision 47-1A-1324(2);
(3) That they may accept the corporation's estimate of fair value, plus interest, in full satisfaction of their demands or demand appraisal under § 47-1A-1326 ;
(4) That those shareholders who wish to accept such offer must so notify the corporation of their acceptance of the corporation's offer within thirty days after receiving the offer; and
(5) That those shareholders who do not satisfy the requirements for demanding appraisal under § 47-1A-1326 shall be deemed to have accepted the corporation's offer.
Source: SL 2005, ch 239, § 296.
Status: in_force · Read it on the official government site
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