Maryland Article 13 - Dissenters' Rights
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How to fill out Article 13 - Dissenters' Rights?
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FAQ
Shareholders' dissent rights may be pursued when a corporation takes an action notwithstanding its shareholders' objection. Sometimes called an appraisal remedy, dissent rights empower shareholders to demand a buyback of their shares at a fair market value.
Appraisal rights, also called dissent rights or buy-out rights, among other variants, are the rights of shareholders to receive a court-supervised valuation of their shares when certain major changes, such as an acquisition of the company, are contemplated.
Dissenters' rights allow the shareholders of a corporation to obtain cash payment for their shares in case they do not agree or consent to any major corporate transaction. Dissenters' rights cannot be exercised on the shares trading on a national exchange.
An appraisal right is a legal right of a company's shareholders to demand a judicial proceeding or independent valuation of the company's shares with the goal of determining a fair value of the stock price.
Dissenters' rights ensure a shareholder that they can sell their shares at fair value in the event that a company takes a decision that they do not agree with. Dissenters' rights are guaranteed under state corporate law.
Minority shareholders who exercise their appraisal rights are entitled to a court-supervised valuation of their shares, after which the company must buy their shares at that value.
Even in the absence of a meeting, the shareholders must be given written notice about the right to dissent to the action taken by the company. After the receipt of the notice, any shareholder who wants to dissent should provide, in writing, their intent to dissent and demand the payment of their shares.
The Right to Dissent emphasizes that all of these rights, even those that we most closely associate with civil and political rights, require the state not only to refrain from infringing rights but also to take positive steps to ensure that these rights are respected, protected and fulfilled.
