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2017 Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-5.2 - Business Combination Act
Section 7-5.2-2 - Legislative findings.
Universal Citation: RI Gen L § 7-5.2-2 (2017)
§ 7-5.2-2. Legislative findings.
The general assembly finds and declares that:
(1) The hostile takeover of publicly held domestic corporations by business combinations is generally not in the public interest;
(2) A permissive statutory method should be established under which domestic, publicly owned corporations can have available methods to limit hostile takeovers; and
(3) In determining whether a takeover, whether by way of tender offer or other acquisition proposal, is desirable, the board of directors of a domestic corporation can review and take into consideration any factors that affect the corporation's employees, suppliers, creditors, customers, and the community in general.
History of Section.
(P.L. 1990, ch. 138, § 1.)
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