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Collection: Original Records > Articles of Incorporation

Golden-Sierra Realty & Dev (AI-G268)(1975) (10 pages)

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the corporation. Within ten (10) days after the mailing or delivering of the copies of the orders to the shareholders, any such shareholder or shareholders desiring to acquire any part or all of the shares referred to in the notice shall deliver by mail, or otherwise, to the Secretary of the corporation a written offer or offers, expressed to be acceptable immediately, to purchase a specified number of such shares at the price and on the terms stated in the notice. Each such offer shall be accompanied by the purchase price therefor with authorization to pay such price against delivery of the shares. (b) If the total number of shares specified in the offers to purchase exceeds the number of shares to be sold or trans‘ rred, each offering shareholder shall be entitled tc purchase such proportion of such shares as the number of Shares of the corporation which he holds bears to the total number of shares held by all the shareholders desiring to purchase te shares. (c) If all the shares to be sold or transferred are not disposed of under such apportionment, each shareholder desiring to purchase shares in a number in excess of his proportionate share, as provided above, shall be entitled to purcnase such proportion of those shares which remain thus undisposed of, as the total number of shares which he holds bears to the total number of shares held by all of the shareholders desiring to purchase shares in excess of those to which they are entitled under such apportionment. (d) If within said ten (10) day period, the offer or offers to purchase aggregate less than the number of shares to be sold or transferred, the shareholder desiring to sell or transfer such shares shall not be obligated to accept any such offer or offers and may dispose of all of the shares referred to.