(a) A shareholder paid pursuant to § 29-311.14 that is dissatisfied with the amount of the payment shall notify the corporation in writing of that shareholder’s estimate of the fair value of the shares and demand payment of that estimate plus interest, less any payment under § 29-311.14. A shareholder offered payment under § 29-311.15 that is dissatisfied with that offer shall reject the offer and demand payment of the shareholder’s stated estimate of the fair value of the shares plus interest.
(b) A shareholder that fails to notify the corporation in writing of that shareholder’s demand to be paid the shareholder’s stated estimate of the fair value plus interest under subsection (a) of this section within 30 days after receiving the corporation’s payment or offer of payment under § 29-311.14 or § 29-311.15, respectively, waives the right to demand payment under this section and is entitled only to the payment made or offered pursuant to those respective sections.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
This section is referenced in § 29-311.14, § 29-311.15, § 29-311.30, and § 29-311.31.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 3 - Business Corporations
Subchapter XI - Appraisal Rights
Part B - Procedure for Exercise of Appraisal Rights
§ 29–311.10. Notice of appraisal rights
§ 29–311.11. Notice of intent to demand payment and consequences of voting or consenting
§ 29–311.12. Appraisal notice and form
§ 29–311.13. Perfection of rights; right to withdraw
§ 29–311.15. After-acquired shares
§ 29–311.16. Procedure if shareholder dissatisfied with payment or offer