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e - Acceptance of any offer to sell shall be made
by the corporation giving written notice to the selling
shareholder, accompanied by a certified check for the
full amount of the purchase price, and such acceptance,
when accompanied by tender of the certified check shall
constitute a sale of the shares and shall entitle the
purchasers(s) to have the stock certificate for the
shares delivered, properly endorsed with signatures
guaranteed for all of the shares sold. The closing of
the sale and the transfer of the shares shall take
place at the registered office of the corporation
within fifteen (15) days of the acceptance. The date
and time of the closing shall be set forth in the
written notice of acceptance.
f - If a shareholder offers shares of this corporation
first to the corporation and then to the shareholders in
accordance with this Article VI, and neither the corporation
nor the shareholders shall accept such offer, then, for a
period of twelve months following the expiration of the
shareholders' second option period, such shareholder shall
be free to sell, assign, exchange, transfer, donate or
otherwise dispose of the shares in any manner and upon such
terms and conditions as he may deem appropriate, and such
transfer shall be recognized on the books of the corpora-
tion.
g - The donation inter vivos of shares of the
capital stock of the corporation or any transfer of
such shares following the death of a shareholder shall
be subject to the provisions of this Article VI unless
such shares shall be transferred to the spouse, chil-
dren, or other lawful descendants, or the spouse of any
child or lawful descendant, or the father or mother, or
other lawful ascendant, or the collateral relations of
the shareholder, whether outright, in trust, or to any
other legal entity established for the exclusive ben-
efit of any of the foregoing persons; provided, how-
ever, that the corporation shall not be required to
record and honor such transfer, except upon receipt of
written notice of such transfer.
h - Notwithstanding any other provision of this
Article VI, a shareholder shall have the right to sell
all or part of his shares to, or exchange such shares
with, his spouse, children, or other lawful descen-
dants, or the spouse of any child or lawful descendant,
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Last modified: May 25, 2011