16-10a-1326. Failure to take action.
(1) If the effective date of the corporate action creating dissenters' rights under Sectiondoes not occur within 60 days after the date set by the corporation as the date by which the corporation must receive payment demands as provided in Section, the corporation shall return all deposited certificates and release the transfer restrictions imposed on uncertificated shares, and all shareholders who submitted a demand for payment pursuant to Sectionshall thereafter have all rights of a shareholder as if no demand for payment had been made. 16-10a-1302 16-10a-1322 16-10a-1323
(2) If the effective date of the corporate action creating dissenters' rights under Sectionoccurs more than 60 days after the date set by the corporation as the date by which the corporation must receive payment demands as provided in Section, then the corporation shall send a new dissenters' notice, as provided in Section, and the provisions of Sectionsthroughshall again be applicable. 16-10a-1302 16-10a-1322 16-10a-1322 16-10a-1323 16-10a-1328