§ 55-13-20. Notice of dissenters' rights.
Part 2. Procedure for Exercise ofDissenters' Rights.
§ 55‑13‑20. Notice of dissenters' rights.
(a) If proposedcorporate action creating dissenters' rights under G.S. 55‑13‑02 issubmitted to a vote at a shareholders' meeting, the meeting notice must statethat shareholders are or may be entitled to assert dissenters' rights underthis Article and be accompanied by a copy of this Article.
(b) If corporate actioncreating dissenters' rights under G.S. 55‑13‑02 is taken without avote of shareholders or is taken by shareholder action without meeting underG.S. 55‑7‑04, the corporation shall no later than 10 daysthereafter notify in writing all shareholders entitled to assert dissenters'rights that the action was taken and send them the dissenters' notice describedin G.S. 55‑13‑22. A shareholder who consents to shareholder actiontaken without meeting under G.S. 55‑7‑04 approving a corporateaction is not entitled to payment for the shareholder's shares under thisArticle with respect to that corporate action.
(c) If a corporationfails to comply with the requirements of this section, such failure shall notinvalidate any corporate action taken; but any shareholder may recover from thecorporation any damage which he suffered from such failure in a civil actionbrought in his own name within three years after the taking of the corporateaction creating dissenters' rights under G.S. 55‑13‑02 unless hevoted for such corporate action. (1925, c. 77, s. 1; c. 235; 1929, c. 269; 1939, c. 5;c. 279; 1943, c. 270; G.S., ss. 55‑26, 55‑165, 55‑167; 1955,c. 1371, s. 1; 1969, c. 751, s. 39; 1973, c. 469, ss. 36, 37; 1989, c. 265, s.1; 2002‑58, s. 2.)