Kansas Statutes
§ 17-1295 — Redemption of shares, when
(a)Unless otherwise provided in the articles of incorporation or bylaws of an issuing public corporation before a control share acquisition has occurred or has been proposed, the issuing public corporation may call for redemption of not less than all shares acquired in a control share acquisition at a redemption price equal to the market value of the shares at the time the call for redemption is given, in the event:
(1)An acquiring person statement has not been delivered to the issuing public corporation by the acquiring person by the tenth day after the control share acquisition; or
(2)an acquiring person statement has been filed but the shareholders have voted not to accord voting rights to the control shares.
(b)The call for redemption shall be given within 30 days after the event g
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Legislative History
L. 1988, ch. 93, § 10; April 21.
Nearby Sections
15
§ 17-10a01
Building and loan associations and life insurance companies; authority as members and borrowers§ 17-10a02
Powers of members or borrowers§ 17-10a07
Same; ratification of prior actions§ 17-1287
Control share acquisition, defined§ 17-1288
Interested shares, defined§ 17-1289
Issuing public corporation, defined§ 17-1290
Application of act§ 17-1291
Acquiring person statement, contents