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Subject: Partnership, Revised Corporation Cooperative Law ( Business Laws and Regulations) (Philippines) Topic: Appraisal Right of the Corporation Identification: A stockholder who demands payment of
Subject: Partnership, Revised Corporation Cooperative Law ( Business Laws and Regulations) (Philippines)
Topic: Appraisal Right of the Corporation
Identification:
- A stockholder who demands payment of his shares provided procedures had been satisfied.
- Three disinterested persons who may be called upon to help in the determining of the price, in case the stockholder rejects the offered price by the corporation.
- He is the person to whom such shares represented by the certificates bearing notation that they are dissenting shares are transferred.
- The period within which the stockholder must manifest his demand to be paid the fair value of his shares.
- A right to demand the fair value of once shares when a stockholder disagrees to a proposed corporate action which was approved by the 2/3 votes of the voting stockholders in the corporation.
- Termed as the determination as of the day prior to the date on which the vote was taken.
- The period within which the stockholder must submit the certificates of stocks representing the shares to the corporation for notation as such dissenting shares.
- Is a requirement in order that the corporation can pay the fair value of the shares.
- Represented by certificates that bears the notation of the corporation that such belongs to the concerned stockholder.
- Bears the costs of appraisal as a general rule.
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