16-4-303 - Service and publication of notice of sale.
16-4-303. Service and publication of notice of sale.
(1) The notice of sale required by Section 16-4-302 shall be:
(a) personally served on each shareholder whose share is subject to sale; or
(b) sent by certified mail, return-receipt requested, to each shareholder whose share issubject to sale at the address shown on the corporation's records.
(2) A shareholder is responsible for providing the shareholder's current mailing addressto the corporation for purposes of Subsection (1).
(3) The notice required by Subsection (1) shall be served or mailed at least 15 days, butnot more than 30 days before the day on which the sale is to occur.
(4) A notice of sale shall be published:
(a) once a week for two weeks in a newspaper of general circulation in the location of thecorporation's principal place of business beginning at least 15 days but no more than 45 daysbefore the day on which the sale is to occur; and
(b) in accordance with Section 45-1-101 for 45 days before the day on which the sale isto occur.
Amended by Chapter 388, 2009 General Session