§ 48-103-113 — Applicability of part

Tennessee § 48-103-113

• Jurisdiction: Tennessee
• Title: 48

Text

(a) This part does not apply to "state banks" as defined in § 45-1-103 , to "savings and loan associations," as defined by § 45-3-104 , or to "public utilities," as defined by § 65-4-101 . (b) If the offeree company is a domestic insurance company whose takeover is subject to title 56, chapter 10, part 2, this part shall not apply and title 56, chapter 10, part 2 shall control. For purposes of this section, "domestic insurance company" has the meaning as that set forth in § 56-10-201 . (c) This part shall not apply to public utilities, public utility holding companies, national banking associations, bank holding companies or savings and loan associations subject to regulation by a federal agency. (d) This part shall not apply to any offer involving a vote by holders of equity securities of the offeree company, pursuant to its charter or articles of incorporation or the applicable corporation statute, on a merger, consolidation or sale of corporate assets in consideration of the issuance of securities of another corporation, or on a sale of its securities in exchange for cash or securities of another corporation.

Legislative History

Acts 1976, ch. 536, § 2; impl. am. Acts 1978, ch. 708, §§ 1.04, 5.25, 6.01; 1979, ch. 315, § 1; T.C.A., §§ 48-2114, 48-5-114, 48-35-113.