As used in this chapter:
"Affiliate" means any person controlling, controlled by, or under the
common control of another person.
"Beneficial owner of a security" means any person who, directly or
indirectly, has the power to vote or direct the voting of all or part of the
voting rights of the security, or has the power to dispose of or direct the
disposition of the security.
"Commissioner" means the securities commissioner as defined in IC 23-19-1-2(4).
"Control" means possession, direct or indirect, of the power to direct
or to cause the direction of the management and policies of a person,
through the ownership of voting securities, by contract other than a
commercial contract for goods or nonmanagement services, or
otherwise, unless that power is the result of an official position or
co
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As used in this chapter:
"Affiliate" means any person controlling, controlled by, or under the
common control of another person.
"Beneficial owner of a security" means any person who, directly or
indirectly, has the power to vote or direct the voting of all or part of the
voting rights of the security, or has the power to dispose of or direct the
disposition of the security.
"Commissioner" means the securities commissioner as defined in IC 23-19-1-2(4).
"Control" means possession, direct or indirect, of the power to direct
or to cause the direction of the management and policies of a person,
through the ownership of voting securities, by contract other than a
commercial contract for goods or nonmanagement services, or
otherwise, unless that power is the result of an official position or
corporate office. The term includes "controlling", "controlled by", and
"under common control with." Control is presumed to exist if any
person is the beneficial owner of ten percent (10%) or more of any
class of the voting securities of any other person. This presumption
may be rebutted only by a showing that control does not exist in fact,
at a hearing pursuant to section 9 of this chapter.
"Equity security" means:
(1) any share or similar security carrying, at the time of the
takeover offer, the right to vote on any matter by virtue of the
articles of incorporation, bylaws, or governing instrument of the
target company or the right to vote for directors or persons
performing substantially similar functions by operation of law;
(2) any security convertible into a security described in
subdivision (1) or any warrant or right to purchase that security;
or
(3) any other security which, for the protection of investors, is an
equity security pursuant to a regulation of the commissioner.
"Offeror" means a person who makes or in any way participates in
making a takeover offer. The term includes all affiliates of that person
and all persons who act jointly or in concert with that person for the
purpose of acquiring, holding, or disposing of, or exercising any voting
rights attached to, the equity securities of a target company. It also
includes the target company with respect to acquisitions of its own
equity securities and with respect to periods of time when it is
controlled by or under common control with the offeror. It does not
include a financial institution or broker-dealer loaning funds or
extending credit to any offeror in the ordinary course of its business, or
any accountant, attorney, financial institution, broker-dealer,
newspaper or magazine of general circulation, consultant, or other
person furnishing information, services, or advice to or performing
ministerial or administrative duties for an offeror and not otherwise
participating in the takeover offer.
"Offeree" means a record or beneficial owner of equity securities of
the class which an offeror acquires or offers to acquire in connection
with a takeover offer.
"Person" means an individual, corporation, limited liability
company, association, partnership, trust, or other entity.
"Substantially equivalent terms" means terms under which the fair
market value of the consideration offered any offeree of a class of
equity securities of the target company (determined on a per share or
a per unit basis) are equal to the highest consideration offered in
connection with a takeover offer to any other offeree of that class
(determined on a per share or per unit basis).
"Takeover offer" means an offer to acquire or an acquisition of any
equity security of a target company, pursuant to a tender offer or
request or invitation for tenders, if, after the acquisition, the offeror is
directly or indirectly a record or beneficial owner of more than ten
percent (10%) of any class of the outstanding equity securities of the
target company.
"Target company" means an issuer of securities which is organized
under the laws of this state, has its principal place of business in this
state, and has substantial assets in this state. Target company does not
include:
(1) a financial institution subject to regulation by the department
of financial institutions under IC 28, if the takeover offer is
subject to approval by the department of financial institutions;
(2) a corporation subject to regulation by the utility regulatory
commission under IC 8, if the takeover offer is subject to approval
of the commission; or
(3) a public utility, public utility holding company, bank holding
company, or savings association subject to regulation by a federal
agency, if the takeover offer is subject to the approval by that
federal agency.
As added by Acts 1979, P.L.235, SEC.1. Amended by Acts
1981, P.L.215, SEC.2; P.L.242-1983, SEC.2; P.L.23-1988, SEC.111;
P.L.8-1993, SEC.311; P.L.79-1998, SEC.21; P.L.27-2007,
SEC.13.