- (a) Within 50 days after the Department accepts the articles for record, the successor or an objecting stockholder who has not received payment for his stock may petition a court of equity in the county where the principal office of the successor is located or, if it does not have a principal office in this State, where the resident agent of the successor is located, for an appraisal to determine the fair value of the stock.
(b)
- (1) If more than one appraisal proceeding is instituted, the court shall direct the consolidation of all the proceedings on terms and conditions it considers proper.
- (2) Two or more objecting stockholders may join or be joined in an appraisal proceeding.
Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 23, § 73.