1. (a) The owner of shares of stock that were voted against a consolidation, merger, or transfer of assets is entitled to receive the fair value of those shares, in cash, if the transaction becomes effective.

2. (b) A stockholder who desires to receive payment of the fair value for shares under this section, within 30 days after the transaction becomes effective, shall:

   1. (1) Make a written demand on the successor for payment; and
   2. (2) Surrender the stock certificates.

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980.

Formerly Art. 11, §§ 109, 113.