US Laws, Codes, Statutes & Cases

§140.12.  Applicability

A.  If the articles of incorporation or bylaws of an issuing public corporation provide, at the time of the control share acquisition, that this Subpart applies to control share acquisitions of shares of such corporation, shares of such corporation acquired in such control share acquisition have only such voting rights as are authorized pursuant to the provisions of R.S. 12:140.16.  

B.  A corporation may amend its articles of incorporation or bylaws to eliminate a provision adopted pursuant to Subsection A, in which event this Part shall not apply to any control share acquisition respecting the stock of such corporation which occurs after the effective date of such amendment.  

Acts 1988, No. 173, §1, eff. June 29, 1988.