221.0709

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221.0709 Notice of intent to demand payment.

221.0709(1)

(1) Method of asserting dissenters’ rights. If proposed corporate action creating dissenters’ rights under § 221.0706 is submitted to a vote at a shareholders’ meeting, a shareholder or beneficial shareholder who wishes to assert dissenters’ rights shall do all of the following:

221.0709(1)(b)

(b) Refrain from voting his or her shares in favor of the proposed action.

221.0709(1)(a)

(a) Deliver to the issuer bank before the vote is taken written notice that complies with § 221.0103 of the shareholder’s or beneficial shareholder’s intent to demand payment for his or her shares if the proposed action is effectuated.

221.0709(2)

(2) Failure to comply. A shareholder or beneficial shareholder who fails to comply with sub. (1) is not entitled to payment for his or her shares under §§ 221.0701 to 221.0718.