As Amended
SEC. 49-20-3. Legislative findings.
The Legislature finds that the timberlands of this state along the Mississippi River are a natural resource of the state which are highly valuable to the economy of the state and to the quality of life of its citizens, in terms of the timberlands' contribution to water and soil conservation, to the preservation of wildlife habitat, to recreational opportunities, and to various aspects of the economy of the state; that proper management of river timberlands within the state conserves the forest resources of the state, making them a renewable resource for future years and future generations and thus a continuing contributor to soil and water conservation and to wildlife habitat and a continuing source of employment to the people of this state. The Legislature further finds that it is important in the public interest to have a form of public control, to be exercised in the public interest of this state, of transactions in the voting stock of corporations incorporated in this state which have substantial holdings of river timberlands in this state, so that parties who seek to obtain a controlling or influential interest in the voting stock of such corporations, together with their controlling and affiliated persons and with their backgrounds and plans for the use and management of river timberlands, be subject to scrutiny and review in the public interest. In order to limit the extent to which such public control might impinge upon the national market for publicly-traded corporate securities, the Legislature has determined to exempt from such public review acquisitions of certain publicly-traded securities.
SOURCES: Laws, 1991, ch. 326 Sec. 2, eff from and after passage (approved March 15, 1991).