§ 4-38-1002 — Relationship of subchapter to other laws

(a) This subchapter does not authorize an act prohibited by, and does not affect the application or requirements of, law other than this subchapter. (b) A transaction effected under this subchapter may not create or impair a right, duty or obligation of a person under the statutory law of this state other than this subchapter relating to a change in control, takeover, business combination, control-share acquisition, or similar transaction involving a domestic merging, acquired, converting, or domesticating business corporation unless: (1) if the corporation does not survive the transaction, the transaction satisfies any requirements of the law; or (2) if the corporation survives the transaction, the approval of the plan is by a vote of the shareholders or directors which would be sufficient to create or impair the right, duty, or obligation directly under the law.

Legislative History

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.