76677013.1-740Virginia Decodedhttps://vacode.org2016CorporationsVirginia Stock Corporation ActAppraisal Rights And Other Remedies.Court actionCode 1950, §§ 13-85, 13.1-75, 13.1-78; 1956, c. 428; 1968, c. 733; 1972, c. 425; 1975, c. 500; 1984, c. 613; 1985, c. 522; 2005, c. 765.Middleburg Training Center, Inc. v. Firestone1:07cv37477 F. Supp. 2d 7192007-03-06https://www.courtlistener.com/opinion/2430136/middleburg-training-center-inc-v-firestone/ . . . County, Virginia, in accordance with Va.Code § 13.1-740. . . . District Court, E.D. VirginiaMiddleburg Training Center, Inc. v. Firestone1:07cv37477 F. Supp. 2d 7192007-03-06https://www.courtlistener.com/opinion/2430136/middleburg-training-center-inc-v-firestone/ . . . County, Virginia, in accordance with Va.Code § 13.1-740. . . . District Court, E.D. Virginiahttp://law.lis.virginia.gov/vacode/13.1-740/13.1-737Payment/13.1-737/13.1-738After-acquired shares/13.1-738/13.1-739Procedure if shareholder dissatisfied with payment or offer/13.1-739//13.1-740/13.1/9/15/13.1-74013.1-741

If a shareholder makes a demand for payment under § 13.1-739 that remains unsettled, the corporation shall commence a proceeding within 60 days after receiving the payment demand and petition the court to determine the fair value of the shares and accrued interest. If the corporation does not commence the proceeding within the 60-day period, it shall pay in cash to each shareholder the amount the shareholder demanded pursuant to § 13.1-737 plus interest.section

A

AA1

section

B

BB1

The corporation shall make all shareholders, whether or not residents of the Commonwealth, whose demands remain unsettled parties to the proceeding as in an action against their shares, and all parties shall be served with a copy of the petition. Nonresidents may be served by registered or certified mail or by publication as provided by law.section

C

CC1

The corporation may join as a party to the proceeding any shareholder who claims to have demanded an appraisal but who has not, in the opinion of the corporation, complied with the provisions of this article. If the court determines that a shareholder has not complied with the provisions of this article, that shareholder shall be dismissed as a party.section

D

DD1

The jurisdiction of the court in which the proceeding is commenced under subsection B is plenary and exclusive. The court may appoint one or more persons as appraisers to receive evidence and recommend a decision on the question of fair value. The appraisers shall have the powers described in the order appointing them, or in any amendment to it. The shareholders demanding appraisal are entitled to the same discovery rights as parties in other civil proceedings. There shall be no right to a jury trial.section

E

EE1

section

F

FF1