As Amended
SEC. 49-20-17. Grounds for disapproval of acquisitions.
The Secretary of State shall disapprove any acquisition subject to the provisions of this chapter by any person or any affiliated person of such person who:
(a) Willfully violates this chapter;
(b) In violation of an order issued pursuant to Section 49-20-27, fails to divest himself of any stock obtained in violation of this stock, or fails to divest himself of any direct or indirect control of such stock, within fifteen (15) days after such order; or
(c) In violation of an order issued pursuant to Section 49-20-27, acquires additional stock of the river timberlands company, or direct or indirect control of such stock, without complying with this chapter.
SOURCES: Laws, 1991, ch. 326 Sec. 9, eff from and after passage (approved March 15, 1991).