1. (1) If a proposed corporate action specified in section 7-113-102 (1) is submitted to a vote at a shareholders' meeting, a shareholder that wishes to assert appraisal rights with respect to any class or series of shares:

   1. (a) Must deliver to the corporation, before the vote is taken, notice of the shareholder's intent to demand payment if the proposed corporate action is effectuated; and
   2. (b) Must not vote, or cause or permit to be voted, any shares of the class or series in favor of the proposed corporate action.
2. (2) If a proposed corporate action specified in section 7-113-102 (1) is to be approved by less than unanimous written consent, a shareholder that wishes to assert appraisal rights with respect to any class or series of shares must not execute a consent in favor of the proposed corporate action with respect to that class or series of shares.
3. (3) A shareholder that fails to satisfy the requirements of subsection (1) or (2) of this section is not entitled to demand payment under this article 113.

Source: L. 2019: Entire article R&RE, (SB 19-086), ch. 166, p. 1954, § 56, effective July 1, 2020. L. 2021: (1)(a) amended, (HB 21-1124), ch. 41, p. 171, § 26, effective April 19.

Editor's note: This section is similar to former § 7-113-202 as it existed prior to 2020.