1. A shareholder who receives notice pursuant to section 490.1322 and who wishes to exercise appraisal rights shall sign and return the form sent by the corporation and, in the case of certificated shares, deposit the shareholder’s certificatesin accordance with the terms of the notice by the date referred to in the notice pursuant to section 490.1322, subsection 2, paragraph “b”, subparagraph (2). In addition, if applicable, the shareholder shall certify on the form whether the beneficial owner of such shares acquired beneficial ownership of the shares before the date required to be set forth in the notice pursuant to section 490.1322, subsection 2, paragraph “a”, subparagraph (1). If a shareholder fails to make this certification, the corporation may elect to treat the shareholder’s shares as after-acquired shares under section 490.1325. Once a shareholder deposits that shareholder’s certificates or,in the case of uncertificated shares, returns the signed forms, that shareholder loses all rights as a shareholder, unless the shareholder withdraws pursuant to subsection 2. 2. A shareholder who has complied with subsection 1may nevertheless decline to exercise appraisal rights and withdraw from the appraisal process by so notifying the corporation in writing by the dateset forth in the appraisal notice pursuant tosection 490.1322, subsection 2, paragraph “b”, subparagraph (5). A shareholder who fails toso withdraw from the appraisal process shall not thereafter withdraw without the corporation’s written consent. 3. A shareholder who does not sign and return the form and, in the case of certificated shares, deposit that shareholder’s share certificateswhere required, each bythe date set forth in the notice described in section 490.1322, subsection 2, shall not be entitled to payment under this subchapter. §62, 82; 2019 Acts, ch 24, §104; 2021 Acts, ch 165, §164, 230
‹ Prev All Iowa sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.