Utah § 61-6-4 "Interested shares" defined.

Utah Statutes

§ 61-6-4 — "Interested shares" defined.

Utah·Title 61 Securities Division - Real Estate Division·Ch. 61-6 Control Shares Acquisitions Act

(1)As used in this chapter, "interested shares" means the shares of an issuing public corporation in respect of which any of the following persons may exercise or direct the exercise of the voting power of the corporation, on or after the applicable record date, in the election of directors:

(1)(a) an acquiring person or member of a group with respect to a control share acquisition;

(1)(b) any officer of the issuing public corporation; or

(1)(c) any employee of the issuing public corporation who is also a director of the corporation.

(2)"Interested shares" does not mean the shares of an issuing public corporation in respect of which any of the persons described in Subsections (1)(a) through (c) may exercise or direct the exercise of the voting power of the corporation in the election of

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

(1) As used in this chapter, "interested shares" means the shares of an issuing public corporation in respect of which any of the following persons may exercise or direct the exercise of the voting power of the corporation, on or after the applicable record date, in the election of directors:

(1)(a) an acquiring person or member of a group with respect to a control share acquisition;
(1)(b) any officer of the issuing public corporation; or
(1)(c) any employee of the issuing public corporation who is also a director of the corporation.
(2) "Interested shares" does not mean the shares of an issuing public corporation in respect of which any of the persons described in Subsections (1)(a) through (c) may exercise or direct the exercise of the voting power of the corporation in the election of directors if the voting power is based solely on a revocable proxy given in response to a proxy solicitation made in accordance with Section 14 of the Securities Exchange Act of 1934, as amended.

Utah § 61-6-4 ("Interested shares" defined.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.