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Current as of May 05, 2022 | Updated by FindLaw Staff
(1) Control shares acquired in a control share acquisition have the same voting rights as were accorded the shares before the control share acquisition only to the extent granted by resolution approved by the shareholders of the issuing public corporation.
(2) To be approved under this section, the resolution shall be approved:
(a) by each voting group entitled to vote separately on the proposal by a majority of all the votes entitled to be cast by that group, excluding all interested shares; and
(b) by each class of outstanding shares by a majority of all the holders of the outstanding shares of the class, if the proposed control share acquisition would, when fully implemented, result in any of the changes described in Section 16-10a-1004.
Cite this article: FindLaw.com - Utah Code Title 61. Securities Division--Real Estate Division § 61-6-10. Voting rights--Approval - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-61-securities-division-real-estate-division/ut-code-sect-61-6-10/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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