Section 1801 – Title.

Effective 5/9/2017 16-10a-1801. Title. This part is known as “Business Combinations.” Enacted by Chapter 439, 2017 General Session

Section 1802 – Definitions.

Effective 5/9/2017 16-10a-1802. Definitions. As used in this part: (1) “Affiliate” means the same as that term is defined in Section 16-10a-102. (2) “Announcement date,” when used in reference to a business combination, means the date of the first public announcement of the final, definitive proposal for the business combination. (3) “Associate,” when used to […]

Section 1803 – Business combinations.

Effective 5/9/2017 16-10a-1803. Business combinations. (1) Notwithstanding anything to the contrary in this chapter, except Section 16-10a-1804, a domestic corporation may not engage in a business combination with an interested shareholder of the corporation for a period of five years following the interested shareholder’s stock acquisition date unless the business combination or the purchase of […]

Section 1804 – Scope of part.

Effective 5/9/2017 16-10a-1804. Scope of part. This part does not apply to: (1) a business combination of a domestic corporation that does not have a class of voting stock registered with the Securities and Exchange Commission pursuant to Exchange Act, Sec. 12, 15 U.S.C. Sec. 78l, unless the articles of incorporation provide otherwise; (2) a […]

Section 1901 – Definition.

Effective 5/14/2019 16-10a-1901. Definition. As used in this part: (1) “Oppressive conduct” means a continuing course of conduct, a significant action, or a series of actions that substantially interferes with the interests of a shareholder as a shareholder. (2) “Oppressive conduct” may include: (a) termination of a shareholder’s employment; or (b) limitations on a shareholder’s […]

Section 1902 – Shareholder cause of action — Relief.

Effective 5/14/2019 16-10a-1902. Shareholder cause of action — Relief. (1) A shareholder of a closely held corporation who is injured by oppressive conduct may bring a private cause of action against the closely held corporation. (2) (a) If a court finds that oppressive conduct toward the shareholder occurred, the court shall order one or more […]