Appraisal By Contract
Appraisal Rights
SEPTEMBER 11, 2018
While appraisal is typically a creature of statute, appraisal rights can also be a creature of contract–in particular, when an operating agreement, charter, or similar foundational document provides for them (including when a certificate of designation provides for the value of preferred stock ). Many states, including New York, allow the members of an LLC–as an example–to include appraisal rights in the operating agreement.
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