TITLE 4: ECONOMIC RESOURCES
DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
§ 4579. Procedure if Shareholder Dissatisfied with Payment of Offer. (a) A dissenter may notify the corporation in writing of his own estimate of the fair value of his shares and amount of interest due, and demand payment of his estimate (less any payment under 4 CMC § 4576), or reject the corporation’s offer under 4 CMC § 4578 and demand payment of the fair value of his shares and interest due, if: (1) The dissenter believes that the amount paid under 4 CMC § 4576 or offered under 4 CMC § 4578 is less than the fair value of his shares or that the interest due is incorrectly calculated; (2) The corporation, fails to make payment under 4 CMC § 4576 within 60 days after the date set for demanding payment; or (3) The corporation, having failed to take the proposed action, does not return the deposited certificates or release the transfer restrictions imposed on uncertificated shares within 60 days after the date set for demanding payment. (b) A dissenter waives his right to demand payment under this section unless he notifies the corporation of his demand in writing under subsection (a) of this section within 30 days after the corporation made or offered payment for his shares. Source: PL 10-7, § 1 (Bus. Corp. Reg. § 13.28).