As Amended
SEC. 49-20-7. Restrictions on acquiring voting securities of river timberlands company.
No person shall, individually or in conjunction with any affiliated person of such person, acquire directly or indirectly, or enter into any agreement, commitment or arrangement to acquire, any of the outstanding voting securities of a river timberlands company, if, (a) giving effect thereto, such person would, either individually or in conjunction with any affiliated person of such person be the owner of ten percent (10%) or more of the voting stock of a river timberlands company, or (b) the voting securities of such river timberlands company so proposed to be acquired constitute ten percent (10%) or more of the outstanding voting securities of such river timberlands company, unless:
(i) The person or affiliated person has filed with the Secretary of State and sent to the river timberlands company a statement as specified in Section 49-20-11; and
(ii) The Secretary of State has approved the acquisition and such approval is in effect.
SOURCES: Laws, 1991, ch. 326 Sec. 4, eff from and after passage (approved March 15, 1991).