Kentucky Statutes 271B.13-030 – Dissent by nominees and beneficial owners
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(1) A record shareholder may assert dissenters’ rights as to fewer than all the shares registered in his name only if he shall dissent with respect to all shares beneficially owned by any one (1) person and notify the corporation in writing of the name and address of each person on whose behalf he asserts dissenters’ rights. The rights of a partial dissenter under this subsection shall be determined as if the shares as to which he dissents and his other shares were registered in the names of different shareholders.
(2) A beneficial shareholder may assert dissenters’ rights as to shares held on his behalf only if:
(a) He submits to the corporation the record shareholder‘s written consent to the dissent not later than the time the beneficial shareholder asserts dissenters’ rights; and
(b) He does so with respect to all shares of which he is the beneficial shareholder or over which he has power to direct the vote.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 125, effective January 1, 1989.
(2) A beneficial shareholder may assert dissenters’ rights as to shares held on his behalf only if:
Terms Used In Kentucky Statutes 271B.13-030
- Beneficial shareholder: means the person who is a beneficial owner of shares held in a voting trust or by a nominee as the record shareholder. See Kentucky Statutes 271B.13-010
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the issuer of the shares held by a dissenter, except that in the case of a merger where the issuing corporation is not the surviving corporation, then, after consummation of the merger, "corporation" shall mean the surviving corporation. See Kentucky Statutes 271B.13-010
- Dissenter: means a shareholder who is entitled to dissent from corporate action under KRS §. See Kentucky Statutes 271B.13-010
- Person: includes individual and entity. See Kentucky Statutes 271B.1-400
- Record shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Kentucky Statutes 271B.13-010
- Shareholder: means the record shareholder or the beneficial shareholder. See Kentucky Statutes 271B.13-010
(a) He submits to the corporation the record shareholder‘s written consent to the dissent not later than the time the beneficial shareholder asserts dissenters’ rights; and
(b) He does so with respect to all shares of which he is the beneficial shareholder or over which he has power to direct the vote.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 125, effective January 1, 1989.