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R.I. Gen. Laws § 7-5.2-2

Legislative findings

Known as the Business Combination Act

The act spans §§ 7–7 (8 sections).

P.L. 1990, ch. 138, § 1.

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.

Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.