(a) If proposed corporate action creating dissenters' rights under § 4-27-1302 is authorized at a shareholders' meeting, the corporation shall deliver a written dissenters' notice to all shareholders who satisfied the requirements of § 4-27-1321.
(b) The dissenters' notice must be sent no later than ten (10) days after the corporate action was taken, and must:
(1) state where the payment demand must be sent and where and when certificates for certificated shares must be deposited;
(2) inform holders of uncertificated shares to what extent transfer of the shares will be restricted after the payment demand is received;
(3) supply a form for demanding payment that includes the date of the first announcement to news media or to shareholders of the terms of the proposed corporate action and requires that the person asserting dissenters' rights certify whether or not he acquired beneficial ownership of the shares before that date;
(4) set a date by which the corporation must receive the payment demand, which date may not be fewer than thirty (30) nor more than sixty (60) days after the date the subsection (a) notice is delivered; and
(5) be accompanied by a copy of this subchapter.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 27 - Business Corporation Act of 1987
Subchapter 13 - Dissenters' Rights
Part B - : Procedure for Exercise of Dissenters' Rights
§ 4-27-1320. Notice of dissenters' rights
§ 4-27-1321. Notice of intent to demand payment
§ 4-27-1322. Dissenters' notice
§ 4-27-1323. Duty to demand payment
§ 4-27-1324. Share restrictions
§ 4-27-1326. Failure to take action
§ 4-27-1327. After-acquired shares
§ 4-27-1328. Procedure if shareholder dissatisfied with payment or offer