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Section 83. When Right to Payment Ceases - Revised Corporation Code

Section 83. When Right to Payment Ceases of Revised Corporation Code. Section 83. When Right to Payment Ceases. - No demand for payment under this Title may be withdrawn unless the corporation consents thereto. If,

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

Revised Corporation Code

Section 83. When Right to Payment Ceases. - No demand for payment under this Title may be withdrawn unless the corporation consents thereto. If, however, such demand for payment is withdrawn with the consent of the corporation, or if the proposed corporate action is abandoned or rescinded by the corporation or disapproved by the Commission where such approval is necessary, or if the Commission determines that such stockholder is not entitled to the appraisal right, then the right of the stockholder to be paid the fair value of the shares shall cease, the status as the stockholder shall be restored, and all dividend distributions which would have accrued on the shares shall be paid to the stockholder.

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