(a) Except as provided in § 4-27-1327, as soon as the proposed corporate action is taken, or upon receipt of a payment demand, the corporation shall pay each dissenter who complied with § 4-27-1323 the amount the corporation estimates to be the fair value of his shares, plus accrued interest.
(b) The payment must be accompanied by:
(1) the corporation's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, a statement of changes in shareholders' equity for that year, and the latest available interim financial statements, if any;
(2) a statement of the corporation's estimate of the fair value of the shares;
(3) an explanation of how the interest was calculated;
(4) a statement of the dissenter's right to demand payment under § 4-27-1328; and
(5) 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