16-10a-1323. Procedure to demand payment.
(1) A shareholder who is given a dissenters' notice described in Section, who meets the requirements of Section, and wishes to assert dissenters' rights shall, in accordance with the terms of the dissenters' notice: 16-10a-1322 16-10a-1321 cause the corporation to receive a payment demand, which may be the payment demand form contemplated in Subsection, duly completed, or may be stated in another writing; 16-10a-1322(2)(d) deposit certificates for his certificated shares in accordance with the terms of the dissenters' notice; and if required by the corporation in the dissenters' notice described in Section, as contemplated by Section, certify in writing, in or with the payment demand, whether or not he or the person on whose behalf he asserts dissenters' rights acquired beneficial ownership of the shares before the date of the first announcement to news media or to shareholders of the terms of the proposed corporate action creating dissenters' rights under Section. 16-10a-1322 16-10a-1327 16-10a-1302
(2) A shareholder who demands payment in accordance with Subsectionretains all rights of a shareholder except the right to transfer the shares until the effective date of the proposed corporate action giving rise to the exercise of dissenters' rights and has only the right to receive payment for the shares after the effective date of the corporate action. (1)
(3) A shareholder who does not demand payment and deposit share certificates as required, by the date or dates set in the dissenters' notice, is not entitled to payment for shares under this part.