Jackson v. Stanwood Corp.

MITCHELL, Judge.

The petitioner assigns as error the act of the trial court in granting summary judgment for the respondent and dismissing the petition. In support of this assignment, the petitioner contends that he filed his petition for appraisal of his 1,500 shares of preferred stock within the sixty-day period provided in G.S. 55413(e). We do not agree.

Article 8 of the North Carolina Business Corporation Act provides shareholders of a corporation who dissent from certain fundamental changes in the corporation’s organization or structure the right to demand and receive payment from that…