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North Carolina General Statutes Chapter 55. North Carolina Business Corporation Act § 55-9A-02. Acquiring person statement

Current as of January 01, 2023 | Updated by Findlaw Staff

Any person who has made a control share acquisition or who has made a bona fide written offer to make a control share acquisition may at the person's election deliver an acquiring person statement to the covered corporation at the covered corporation's principal office. The acquiring person statement must set forth all of the following:

(1) The identity of the acquiring person and each other beneficial owner of shares that are beneficially owned by the acquiring person.

(2) A statement that the acquiring person statement is given pursuant to this Article.

(3) The number of shares of the covered corporation beneficially owned by the acquiring person and each other beneficial owner named under subdivision (1) of this section.

(4) The level of voting power above which the control share acquisition falls or would, if consummated, fall.

(5) If the control share acquisition has not taken place:

a. A description in reasonable detail of the terms of the proposed control share acquisition; and

b. Representations of the acquiring person, together with a statement in reasonable detail of the facts upon which they are based, that the proposed control share acquisition, if consummated, will not be contrary to law, and that the acquiring person has the financial capacity to make the proposed control share acquisition.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 55. North Carolina Business Corporation Act § 55-9A-02. Acquiring person statement - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-55-north-carolina-business-corporation-act/nc-gen-st-sect-55-9a-02/

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