Sec. 5.5. (a) The definitions in
IC 23-1-20 apply to this section, except to the extent of any conflict with section 1 of this chapter.
Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.
Terms Used In Indiana Code 23-2-3.1-5.5
- Commissioner: means the securities commissioner as defined in IC 23-19-1-2(4). See Indiana Code 23-2-3.1-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: means an individual, corporation, limited liability company, association, partnership, trust, or other entity. See Indiana Code 23-2-3.1-1
- 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. See Indiana Code 23-2-3.1-1
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(1) a foreign corporation incorporated under a law other than the law of the United States or any state of the United States (as defined in IC 1-1-4-1); or
(2) a person who is not a citizen of the United States.
(c) This section does not apply to the initiation of a new business in Indiana by a person subject to this section.
(d) Notwithstanding any other provision of this title, a person subject to this section may not make a takeover offer unless the person files a statement with the commissioner under this subsection.
(e) The statement filed under subsection (d) must state the following:
(1) The financial sources to be used by the person in the takeover offer.
(2) The proposed consummation date of the takeover.
As added by P.L.229-1989, SEC.5.
