Assembly Bill 453 (Chapter 109) signed by the governor August 16 and effective January 1 eliminates the 10-day waiting period that currently applies for corporate reorganizations in which shareholders have the right under dissenters rights to demand payment of cash for their shares. 

The bill text can be accessed at http://www.leginfo.ca.gov/pub/13-14/bill/asm/ab_0451-0500/ab_457_bill_20130816_chaptered.html

California – Assembly Bill 453, effective January 1, removes the waiting period for shareholders to receive payment for their shares
Tagged on: