<?xml version='1.0' encoding='utf-8'?>
<section article="gfi" article_name="Financial Institutions" number="3-719" title_number="3" title_name="Banking Institutions -- Commercial Banks" subtitle_number="7" subtitle_name="Consolidations, Mergers, and Transfers of Assets">
  <level label="a">
    <text>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.</text>
  </level>
  <level label="b">
    <text>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:</text>
    <level label="1">
      <text>Make a written demand on the successor for payment; and</text>
    </level>
    <level label="2">
      <text>Surrender the stock certificates.</text>
    </level>
  </level>
</section>
