Indiana § 23-2-3.1-0.5 Legislative finding; purpose

Indiana Statutes

§ 23-2-3.1-0.5 — Legislative finding; purpose

Indiana § 23-2-3.1-0.5

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 2SECURITIES AND FRANCHISES

Ch. 3.1Takeover Offers

This text of Indiana § 23-2-3.1-0.5 (Legislative finding; purpose) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-2-3.1-0.5 (2026).

Text

5.

(a)The general assembly finds that it is often difficult for corporate shareholders to obtain sufficient information to make an informed and timely decision when faced with the questions of accepting or rejecting a takeover offer. Moreover, there have emerged a number of practices which have resulted in shareholders of Indiana corporations losing the benefits of takeover offers because they lacked the sophistication and ability to secure those benefits. These practices have included multiple proration pools, two-step transactions and similar practices, and have resulted in relatively small shareholders losing both the advantages of the takeover offer and their equity positions in the corporation.

(b)By enacting this chapter, it is the intent and purpose of the general assembly to prov

Free access — add to your briefcase to read the full text and ask questions with AI

5. (a) The general assembly finds that it is
often difficult for corporate shareholders to obtain sufficient
information to make an informed and timely decision when faced with
the questions of accepting or rejecting a takeover offer. Moreover, there
have emerged a number of practices which have resulted in
shareholders of Indiana corporations losing the benefits of takeover
offers because they lacked the sophistication and ability to secure those
benefits. These practices have included multiple proration pools,
two-step transactions and similar practices, and have resulted in
relatively small shareholders losing both the advantages of the takeover
offer and their equity positions in the corporation.
(b) By enacting this chapter, it is the intent and purpose of the
general assembly to provide for full and fair disclosure of all material
information concerning takeover offers to shareholders of Indiana
corporations, so that the opportunity of each shareholder to make an
informed and well-reasoned investment decision may be secured. It is
also the purpose of the general assembly to protect shareholders of
Indiana corporations from being disadvantaged by those practices
described in subsection (a). Finally, it is the purpose of the general
assembly to provide for adequate disclosure and that protection in a
manner consistent with the Constitutions of the United States and of
Indiana.
As added by Acts 1981, P.L.215, SEC.1. Amended by
P.L.242-1983, SEC.1.