Section 86. If a corporation proposes to take a corporate action as to which any section of this chapter provides that a stockholder who objects to such action shall have the right to demand payment for his shares and an appraisal thereof, sections eighty-seven to ninety-eight, inclusive, shall apply except as otherwise specifically provided in any section of this chapter. Except as provided in sections eighty-two and eighty-three, no stockholder shall have such right unless (1) he files with the corporation before the taking of the vote of the shareholders on such corporate action, written objection to the proposed action stating that he intends to demand payment for his shares if the action is taken and (2) his shares are not voted in favor of the proposed action.
Notes of Decisions
Sarrouf v. New England Patriots Football Club, Inc., 492 N.E.2d 1122 (Mass. 1986).
· cites it 3× “G. L. c. 156B, § 86. A stockholder who (1) files a written objection with the corporation before a vote is taken on the action, (2) does not vote in favor of the action, and (3) demands in writing payment for his stock within twenty days of the mailing of the notice that the…”
Chokel v. First Nat'l Supermarkets, Inc., 660 N.E.2d 644 (Mass. 1996).
· cites it 3× “In order for Chokel’s shares to be eligible for appraisal, Chokel must have fulfilled the requirements of G. L. c. 156B, § 86 (1994 ed.). General Laws c.”
Piemonte v. New Boston Garden Corp., 387 N.E.2d 1145 (Mass. 1979).
“Each plaintiff objected in writing to the proposed merger; *722 none of their shares was voted in Favor of the proposed corporate action (see G. L. c. 156B, § 86); each plaintiff seasonably demanded in writing payment from the defendant for the fair value of his stock (see G.”
Horizon House-Microwave, Inc. v. BAZZY BAZZY, 486 N.E.2d 70 (Mass. App. Ct. 1985).
“As Emil’s complaint is that he did not receive a fair compensation package for his stock, it is singular that he failed to avail himself of the appraisal remedy afforded by G. L. c. 156B, §§ 86 through 98. Indeed, the last of those sections, § 98, provides that a demand for…”
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