17-1290. Same; application of act.

17-1290

Chapter 17.--CORPORATIONS
Article 12.--SECURITIES

      17-1290.   Same; application of act. (a) Unless before the control acquisition a corporation's articles of incorporation or bylaws provide that this act does not apply to control share acquisitions of shares of the corporation, control shares of an issuing public corporation acquired in a control share acquisition have only such voting rights as are conferred by K.S.A. 17-1294.

      (b)   Notwithstanding subsection (a), the provisions of this act will not apply to control share acquisitions of an issuing public corporation for a period of six months from the effective date of this act, unless the corporation's articles of incorporation or bylaws provide that this article will apply.

      History:   L. 1988, ch. 93, § 5; April 21.