Arkansas Section 262 of the Delaware General Corporation Law is a crucial piece of legislation pertaining to appraisal rights in the state of Arkansas. This provision ensures protection for shareholders who dissent from certain corporate actions and seek a fair value for their shares through a process known as appraisal. Under Arkansas Section 262, shareholders who are eligible to exercise their appraisal rights include those who hold stock and have continuously been shareholders of the corporation from the time the corporate action was proposed until the time their demand for appraisal is made. Appraisal rights can be exercised by shareholders opposing corporate actions such as mergers, consolidations, stock exchanges, or other similar actions that impact their ownership rights. One key purpose of Arkansas Section 262 is to provide a mechanism for dissenting shareholders to receive a judicially determined "fair value" for their shares. In the event a shareholder exercises their appraisal rights, they must formally notify the corporation in writing of their intent to do so before a specified deadline. Failure to comply with this notice requirement may result in the loss of appraisal rights. Once a shareholder has demanded appraisal, the corporation is obligated to respond by initiating a legal process to determine the fair value of the shares being appraised. This typically involves an appraisal proceeding in the Delaware Court of Chancery, a renowned court for handling corporate matters. During this proceeding, expert appraisers may be appointed to assess the fair value of the shares. The court then considers various factors, including financial statements, market data, future prospects, and potential risks to arrive at a fair value determination. It is worth noting that Arkansas Section 262 provides provisions for appraisal rights to dissenting shareholders as a separate legal right and emphasizes the importance of a fair and impartial valuation process. The section helps safeguard shareholders' interests by ensuring they have a recourse if they believe they are not receiving equitable treatment in corporate actions that affect their ownership rights. While there are no distinct types of Arkansas Section 262 under the Delaware General Corporation Law, it is important to remember that this section applies to shareholders seeking appraisal rights in the state of Arkansas in relation to Delaware corporations. Thus, it is a specialized provision within the broader framework of Delaware corporate law and has specific applicability to shareholders in Arkansas exercising their appraisal rights. Overall, Arkansas Section 262 of the Delaware General Corporation Law plays a vital role in safeguarding shareholders' interests and providing a mechanism for fair valuation in dissenting situations. It ensures that shareholders have the opportunity to seek a fair value for their shares when they disagree with actions that impact their ownership rights.
Arkansas Section 262 of the Delaware General Corporation Law
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Section 265 - Conversion of other entities to a domestic corporation (a) As used in this section, the term "other entity" means a limited liability company, statutory trust, business trust or association, real estate investment trust, common-law trust or any other unincorporated business including a partnership ( ...
Any stockholder entitled to appraisal rights may, within 20 days after the date of mailing of such notice, demand in writing from the surviving or resulting corporation the appraisal of such holder's shares.
§ 226, a court may appoint a custodian ?upon application of any stockholder? if (1) the stockholders are so divided that they can't elect a board; (2) the business of corporation is ?suffering or threatened with irreparable injury? because the directors are so divided that they can't take action; or (3) the corporation ...
(a) Any 1 or more corporations of this State may merge or consolidate with 1 or more limited liability companies, unless the laws of the jurisdiction or jurisdictions under which such limited liability company or limited liability companies are formed prohibit such merger or consolidation.
Section 266: Stockholder Approval of Conversions. Delaware now permits the conversion of a Delaware corporation to another form of entity, including a foreign corporation, with only the approval of a majority of its stockholders.
Section 262 of the DGCL has been amended to (i) expand the transactions pursuant to which statutory appraisal rights are available in order to include transfers, domestications, and continuances and (ii) require that withdrawal of a demand for appraisal rights be made within 60 days following the effective date of the ...
(a) Whenever stockholders are required or permitted to take any action at a meeting, a notice of the meeting in the form of a writing or electronic transmission shall be given which shall state the place, if any, date and hour of the meeting, the means of remote communications, if any, by which stockholders and proxy ...