Notice of intent to demand payment

7-113-202. Notice of intent to demand payment. (1) If a proposed corporate action specified in section 7-113-102 (1) is submitted to a vote at a shareholders' meeting, a shareholder that wishes to assert appraisal rights with respect to any class or series of shares: (a) Must deliver to the corporation, before the vote is taken, notice of the shareholder's intent to demand payment if the proposed corporate action is effectuated; and (b) Must not vote, or cause or permit to be voted, any shares of the class or series in favor of the proposed corporate action. (2) If a proposed corporate action specified in section 7-113-102 (1) is to be approved by less than unanimous written consent, a shareholder that wishes to assert appraisal rights with respect to any class or series of shares must not execute a consent in favor of the proposed corporate action with respect to that class or series of shares. (3) A shareholder that fails to satisfy the requirements of subsection (1) or (2) of this section is not entitled to demand payment under this article 113. Source: L. 2019: Entire article R&RE, (SB 19-086), ch. 166, p. 1954, � 56, effective July 1, 2020. L. 2021: (1)(a) amended, (HB 21-1124), ch. 41, p. 171, � 26, effective April 19. Editor's note: This section is similar to former � 7-113-202 as it existed prior to 2020.