Corporations, Associations, and Partnerships

Business Combination Act

SECTION 7-5.2-2

§ 7-5.2-2. Legislative findings.

The general assembly finds and declares that:

(1) The hostile takeover of publicly held domestic corporations by business combinations is generally not in the public interest;

(2) A permissive statutory method should be established under which domestic, publicly owned corporations can have available methods to limit hostile takeovers; and

(3) In determining whether a takeover, whether by way of tender offer or other acquisition proposal, is desirable, the board of directors of a domestic corporation can review and take into consideration any factors that affect the corporation's employees, suppliers, creditors, customers, and the community in general.

History of Section.
(P.L. 1990, ch. 138, § 1.)