North Dakota Code 10-35-23 – Protection of power of current directors over poison pill
Current as of: 2023 | Check for updates
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A poison pill adopted, created, or issued by a publicly traded corporation, with or without the approval of its shareholders, may not include a provision that limits in any way the power of the board of directors, as it may be constituted at any point in time, to take any action at any time with respect to the poison pill, including without limitation what is commonly referred to as a “dead hand”, “no hand”, or “slow hand” provision.
Terms Used In North Dakota Code 10-35-23
- 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.