New Hampshire Revised Statutes 304-B:16-l – Procedure if Limited Partner Dissatisfied With Payment of Offer
Current as of: 2023 | Check for updates
|
Other versions
I. A dissenter may notify the limited partnership in writing of the dissenter’s own estimate of the fair value of such dissenter’s limited partnership interest and amount of interest due, and demand payment of the dissenter’s estimate (less any payment under N.H. Rev. Stat. § 304-B:16-i), or reject the limited partnership‘s offer under N.H. Rev. Stat. § 304-B:16-k; and demand payment of the fair value of the limited partnership interest and interest due, if:
(a) The dissenter believes that the amount paid under N.H. Rev. Stat. § 304-B:16-i or offered under N.H. Rev. Stat. § 304-B:16-k is less than the fair value of such dissenter’s limited partnership interest or that the interest due is incorrectly calculated; or
(b) The limited partnership fails to make payment under N.H. Rev. Stat. § 304-B:16-i within 60 days after the date set for demanding payment.
II. A dissenter waives the right to demand payment under this section unless the dissenter notifies the limited partnership of such dissenter’s demand in writing under paragraph I within 30 days after the limited partnership made or offered payment for such dissenter’s limited partnership interest.
(a) The dissenter believes that the amount paid under N.H. Rev. Stat. § 304-B:16-i or offered under N.H. Rev. Stat. § 304-B:16-k is less than the fair value of such dissenter’s limited partnership interest or that the interest due is incorrectly calculated; or
Terms Used In New Hampshire Revised Statutes 304-B:16-l
- Limited partnership: and "domestic limited partnership" mean a partnership formed by 2 or more persons under the laws of this state and having one or more general partners and one or more limited partners. See New Hampshire Revised Statutes 304-B:1
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership interest: means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets. See New Hampshire Revised Statutes 304-B:1
(b) The limited partnership fails to make payment under N.H. Rev. Stat. § 304-B:16-i within 60 days after the date set for demanding payment.
II. A dissenter waives the right to demand payment under this section unless the dissenter notifies the limited partnership of such dissenter’s demand in writing under paragraph I within 30 days after the limited partnership made or offered payment for such dissenter’s limited partnership interest.