Deceased Shareholders Sample Clauses

The Deceased Shareholders clause outlines the procedures and rights that apply when a shareholder of a company passes away. Typically, this clause specifies how the deceased shareholder's shares are to be handled, such as whether they must be offered to remaining shareholders, the company, or can be transferred to heirs, and may set out valuation and payment terms. Its core function is to ensure a clear and orderly transition of ownership, preventing disputes and maintaining stability in the company's shareholding structure after a shareholder's death.
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Deceased Shareholders. In the event of the death of a holder, or of one of the joint holders, of any share of the Corporation, the Corporation shall not be required to make any entry in the securities register in respect of the death or to make any dividend or other payments in respect of the share except upon production of all such documents as may be required by law and upon compliance with the reasonable requirements of the Corporation.
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Deceased Shareholders. In the event of the death of a holder, or of one of the joint holders, of shares of the Corporation, the Corporation will not be required to make any entry in the securities register, or to adjust the payment of any dividend or other payments as a result of that death, until the Corporation is provided with all documents evidencing that death as may be required by law, and there has been compliance with the reasonable requirements of the Corporation and its transfer agent.
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Deceased Shareholders. Upon the death of a Shareholder, the Corporation or the ESOP Trust shall purchase all of the stock of the deceased Shareholder, and the legal representative of the deceased Shareholder shall be obligated to sell to the Corporation or ESOP Trust all of the stock of the deceased Shareholder. The Corporation shall have the first right of refusal on a deceased Shareholders stock. The ESOP Trust shall have the second right of refusal. Should the ESOP Trust decline to purchase any or all of a deceased Shareholder's stock, the Corporation shall be required to purchase the stock. This requirement for purchase of the Corporation's stock shall apply to all and not to less than all, of said stock, and shall be exercised by the Corporation or the ESOP Trust by serving written notice upon the legal representative of the Estate of said Shareholder within ninety (90) days after the qualification of such legal representative. The per share price for the stock of the deceased shareholder shall be the most recent IAP that has been accepted by the Board of Directors as stipulated in Section IV hereof as of the date of death of the Shareholder. Payment terms shall be as stipulated in Section V hereof.
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Deceased Shareholders. Notwithstanding anything in these Articles, if the Company has only one Shareholder (not being one of several joint holders) and that Shareholder dies, the executors or administrators of the deceased Shareholder shall be entitled to register themselves in the Register as the holders of such deceased Shareholder's shares whereupon they shall have all the rights given by these Articles and by law to Shareholders.
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Deceased Shareholders. Subject to section 184 of the Act, any notice or other document delivered or sent by prepaid mail, cable or telefax or left at the address of any shareholder as the same appears in the records of the Company shall, notwithstanding that such shareholder is deceased, and whether or not the Company has notice of his death, be deemed to have been duly served in respect of the shares held by him (whether held solely or with any other person) until such other person is entered in his stead in the records of the Company as the holder or one of the holders thereof and such services shall for purposes be deemed a sufficient service of such notice or document on his personal representatives and on all persons, if any, interested with him in such shares.
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Related to Deceased Shareholders

  • Warrantholder not a Shareholder Except as may be specifically provided herein, nothing in this Indenture or in the holding of a Warrant Certificate, entitlement to a Warrant or otherwise, shall, in itself, confer or be construed as conferring upon a Warrantholder any right or interest whatsoever as a Shareholder, including, but not limited to, the right to vote at, to receive notice of, or to attend, meetings of Shareholders or any other proceedings of the Corporation, or the right to Dividends and other allocations.

  • SHAREHOLDER COMMUNICATIONS ELECTION SEC Rule 14b-2 requires banks which hold securities for the account of customers to respond to requests by issuers of securities for the names, addresses and holdings of beneficial owners of securities of that issuer held by the bank unless the beneficial owner has expressly objected to disclosure of this information. In order to comply with the rule, the Custodian needs the Fund to indicate whether it authorizes the Custodian to provide the Fund’s name, address, and share position to requesting companies whose securities the Fund owns. If the Fund tells the Custodian “no”, the Custodian will not provide this information to requesting companies. If the Fund tells the Custodian “yes” or does not check either “yes” or “no” below, the Custodian is required by the rule to treat the Fund as consenting to disclosure of this information for all securities owned by the Fund or any funds or accounts established by the Fund. For the Fund’s protection, the Rule prohibits the requesting company from using the Fund’s name and address for any purpose other than corporate communications. Please indicate below whether the Fund consents or objects by checking one of the alternatives below. YES ¨ The Custodian is authorized to release the Fund’s name, address, and share positions. NO x The Custodian is not authorized to release the Fund’s name, address, and share positions.