MARVIN MANDEL, Governor

1629

The only changes are in style.

Although CJ §6—201 provides a general venue
provision, the narrower venue is required here
to facilitate the mandatory consolidation of
suits required by subsection (b) of this
section. In this regard, it should be noted
that this section supersedes M.R. 503.

[[3-208]] 3-209. CERTIFICATE MAY BE NOTED.

(A)   SUBMISSION OF CERTIFICATE.

AT ANY TIME AFTER A PETITION FOR APPRAISAL IS FILED,
THE COURT MAY REQUIRE THE OBJECTING STOCKHOLDERS PARTIES
TO THE PROCEEDING TO SUBMIT THEIR STOCK CERTIFICATES TO
THE CLERK OF THE COURT FOR NOTATION ON [[IT]] THEM THAT
THE APPRAISAL PROCEEDING IS PENDING. IF A STOCKHOLDER
FAILS TO COMPLY WITH THE ORDER, THE COURT MAY DISMISS THE
PROCEEDING AS TO HIM OR GRANT OTHER APPROPRIATE RELIEF.

(B)   TRANSFER OF STOCK BEARING NOTATION.

IF ANY STOCK REPRESENTED BY A CERTIFICATE WHICH

BEARS A NOTATION IS SUBSEQUENTLY TRANSFERRED,     THE NEW

CERTIFICATE ISSUED FOR THE STOCK SHALL BEAR    A SIMILAR

NOTATION AND THE NAME OF THE ORIGINAL       OBJECTING

STOCKHOLDER. THE TRANSFEREE OF THIS STOCK     DOES NOT

ACQUIRE RIGHTS OF ANY CHARACTER WITH RESPECT TO   THE STOCK

OTHER THAN THE RIGHTS OF THE ORIGINAL       OBJECTING
STOCKHOLDER.

REVISOR'S NOTE: This section presently appears as
Art. 23, §73(e).

The only changes are in style.

[[3-209]] 3-210. APPRAISAL OF FAIR VALUE.

(A)   COURT TO APPOINT APPRAISERS.

IF THE COURT FINDS THAT THE OBJECTING STOCKHOLDER IS
ENTITLED TO AN APPRAISAL OF HIS STOCK, IT SHALL APPOINT
THREE DISINTERESTED APPRAISERS TO DETERMINE THE FAIR
VALUE OF THE STOCK ON TERMS AND CONDITIONS THE COURT
CONSIDERS PROPER. EACH APPRAISER SHALL TAKE AN OATH TO
DISCHARGE HIS DUTIES HONESTLY AND FAITHFULLY.

(B)   REPORT OF APPRAISERS.

WITHIN 60 DAYS AFTER THEIR APPOINTMENT, UNLESS THE
COURT SETS A LONGER TIME, THE APPRAISERS SHALL DETERMINE
THE FAIR VALUE OF THE STOCK AS OF THE APPROPRIATE DATE
AND FILE A REPORT STATING THE CONCLUSION OF THE MAJORITY