§ 23-1-42-1 — "Control shares" defined

Indiana § 23-1-42-1

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 42: Control Share Acquisitions

Text

As used in this chapter, "control shares" means
shares that, except for this chapter, would have voting power with
respect to shares of an issuing public corporation that, when added to
all other shares of the issuing public corporation owned by a person or
in respect to which that person may exercise or direct the exercise of
voting power, would entitle that person, immediately after acquisition
of the shares (directly or indirectly, alone or as a part of a group), to
exercise or direct the exercise of the voting power of the issuing public
corporation in the election of directors within any of the following
ranges of voting power:
(1) One-fifth (1/5) or more but less than one-third (1/3) of all
voting power.
(2) One-third (1/3) or more but less than a majority of all voting
power.
(3) A majority or more of all voting power.

Legislative History

As added by P.L.149-1986, SEC.26.