Sec. 33-860. Notice of appraisal rights.
Sec. 33-860. Notice of appraisal rights. (a) If proposed corporate action described
in subsection (a) of section 33-856 is to be submitted to a vote at a shareholders' meeting,
the meeting notice shall state that the corporation has concluded that shareholders are,
are not or may be entitled to assert appraisal rights under sections 33-855 to 33-872,
inclusive. If the corporation concludes that appraisal rights are or may be available, a
copy of sections 33-855 to 33-872, inclusive, must accompany the meeting notice sent
to those record shareholders entitled to exercise appraisal rights.
(b) In a merger pursuant to section 33-818, the parent corporation must notify in
writing all record shareholders of the subsidiary who are entitled to assert appraisal
rights that the corporate action became effective. Such notice must be sent within ten
days after the corporate action became effective and include the materials described in
section 33-862.
(P.A. 94-186, S. 150, 215; P.A. 01-199, S. 18.)
History: P.A. 94-186 effective January 1, 1997; P.A. 01-199 amended Subsec. (a) to rephrase provisions, replace
"dissenters' rights" with "appraisal rights" and permit the meeting notice to state that shareholders "are not" entitled to
appraisal rights, deleted former Subsec. (b) re notification by the corporation of all shareholders entitled to assert dissenters'
rights when corporate action creating dissenters' rights under Sec. 33-856 is taken without vote of shareholders and added
new Subsec. (b) re notification by the parent corporation of all record shareholders of the subsidiary who are entitled to
assert appraisal rights after a merger pursuant to Sec. 33-818.
P.A. 94-186, Sec. 150 cited. 44 CS 12.