§ 6-4-107 — Mergers - acquisitions

(1) It is illegal for any person engaged in
trade or commerce to acquire, directly or indirectly, the whole or any part of the
stock, other share capital, or assets of another person engaged in trade or
commerce if the effect of the acquisition may substantially lessen competition or
tend to create a monopoly.

(2) Nothing in this section prohibits any person from:

(a) Acquiring stock of another person solely for investment purposes, so long
as the acquisition of stock is not used, by voting or otherwise, to bring about or to
attempt to bring about the substantial lessening of competition; or

(b) Causing the formation of subsidiary corporations or from owning and
holding all or any part of the stock of a subsidiary corporation.

(3) The attorney general shall not challenge the merger or acquisition of any
bank or bank holding company by or with any other bank or bank holding company
that is subject to the provisions of any of the federal banking laws, except as
specifically provided in those federal banking laws.

Legislative History

Source: L. 2023: Entire article R&RE, (HB 23-1192), ch. 427, p. 2511, � 2, effective June 7.