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80B.01.9
Statute ID:
5277
Statute Function ID:
20412
Corporate Takeovers-Definitions/Target Company
In Effect
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Function Details
History
Text
Details are only available for Penalty and Charging Statutes.
Statute Number:
80B.01.9
Enactment Date:
Jan 1, 1859
Effective Date:
Jan 1, 1859
Expiration Date:
Repealed?:
No
Summary Text:
Corporate Takeovers-Definitions/Target Company
Statute ID:
5277
Created:
Sep 1, 2006 by mnjis.legal.analyst@state.mn.us
Updated:
Sep 1, 2006 by mnjis.legal.analyst@state.mn.us
Last Update Action:
System
Legal Analyst Comment:
Summary Text:
Corporate Takeovers-Definitions/Target Company
Link to MN Statute Text:
https://www.revisor.leg.state.mn.us/stats/80B/01.html
Legislative Session:
0 - NA
Session Law Text?:
No
Statute text last updated on:
Sep 1, 2006
"Target company" means an issuer of publicly traded equity securities (a) which (1) has its principal place of business or its principal executive office located in this state, or (2) owns or controls assets located within this state which have a fair market value of at least $1,000,000, and (b) which (1) has more than ten percent of its beneficial or record equity securityholders resident in this state, (2) has more than ten percent of its equity securities owned beneficially or of record by residents in this state, or (3) has more than 1,000 beneficial or record equity securityholders resident in this state. For the purposes of this chapter, an equity security is publicly traded if a trading market exists for the security at the time the offeror makes a takeover offer for the security. A trading market exists if the security is traded on a national securities exchange, whether or not registered pursuant to the Securities Exchange Act of 1934, or the over-the-counter market.
