As Amended
SEC. 49-20-11. Information required on notice that person seeks to acquire ten percent of voting securities of river timberlands company.
(1) The statement required to be filed with the Secretary of State and furnished to the river timberlands company pursuant to Section 49-20-7 shall contain the following information and any additional information that the Secretary of State may deem necessary to determine the character, experience, ability and other qualifications of the person or affiliated persons of such person for the protection of the public interest as contemplated by this chapter:
(a) The identity of, and the background information specified in Section 49-20-13 on, (i) each corporation, association, partnership, trust or other business entity, or natural person by whom, or on whose behalf, the acquisition is to be made; and (ii) if the acquisition is to be made by, or on behalf of, a corporation, association, partnership, trust or other business entity, (1) on the corporation, association, partnership, trust or other business entity itself; (2) on each person who controls either directly or indirectly the corporation, association, partnership, trust or other business entity, and (3) on each director, officer, trustee or other natural person performing duties similar to those of a director, officer or trustee of or for the corporation, association, partnership, trust or other business entity and of or for each person referred to in clause (2) which is a corporation, association, partnership, trust or other business entity;
(b) The source and amount of the funds or other consideration used, or to be used, in making the acquisition;
(c) Any plans or proposals which such persons may have made to liquidate such river timberlands company or any specified subsidiary thereof, to sell any of the assets of any such company or specified subsidiary or merge, exchange its shares or consolidate it with any person, or to make any other major change in its business or corporate structure or management;
(d) The number of shares or other securities which the person or affiliated persons of such person propose to acquire, the terms of the proposed acquisition, and the manner in which the securities are to be acquired;
(e) Information as to any contract, arrangement, or understanding with any party by such person or any affiliated person with respect to any of the securities of the river timberlands company, including, but not limited to, information relating to the transfer of any of the securities, option arrangements, puts or calls, or the giving or withholding of proxies, which information shall identify the party with whom the contract, arrangement, or understanding has been entered into and give the details thereof;
(f) Information as to the background and experience of such person in the management of timberlands containing species of timber of the sort found in any material quantity on the river timberlands of the river timberlands company, in such detail as the Secretary of State may require;
(g) Information as to the plans of such person with respect to the long-term management of the timberlands in this state of such river timberlands company, with the plans as to harvest, reforestation and wildlife and habitat management to include (without limitation) the allocation of harvest by species, the regulation of the harvest by acreage and volume, the plan as to natural or artificial regeneration of the forest and a plan to insure the quality and nature of the wildlife habitat; and
(h) Information as to such person's familiarity with the ecology of Mississippi River timberlands in the state in the areas where the river timberlands owned by the river timberlands company are located, including, without limitation, matters relating to soil and water conservation, preservation of wildlife habitat and preservation of recreational opportunities, and such other information as to the familiarity of such person with the particular requirements of operating and managing Mississippi River timberlands in the state as may be pertinent to the public interest or required by the Secretary of State.
(2) The Secretary of State shall have the right to request such additional information as the Secretary of State may require, such request to be made in writing. Such additional information shall be filed in the form of an amendment to the statement required under this section.
SOURCES: Laws, 1991, ch. 326 Sec. 6, eff from and after passage (approved March 15, 1991).