Corporations, Associations, and Partnerships

Business Combination Act

SECTION 7-5.2-7

§ 7-5.2-7. Validation of rights plans.

The terms and conditions of rights or options issued by a corporation, including those outstanding on the effective date of this section, may include, without limitation, restrictions or conditions that preclude or limit the exercise, transfer, receipt, or holding of the rights or options by any person or persons owning or offering to acquire a specified number or percentage of the outstanding stock of the corporation, or any transferee or transferees of any person or persons, or that invalidate or void the rights or options held by any person or persons or any transferee or transferees.

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