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LAWS OF MARYLAND

Ch. 615

CHAPTER 615

(Senate Bill 944)

AN ACT concerning

Corporations — Take-Over Offers

FOR the purpose of requiring a person who acquires or
offers to acquire any equity securities of certain
corporations pursuant to a tender offer or request
or invitation for tenders under certain conditions,
to file certain information with the Securities
Commissioner of the Division of Securities and the
target company prior to making the offer and to make
other disclosure relating to the offer or
acquisition; permitting a target company, an offeror
or any stockholder to seek injunctive relief against
violations of this Act; providing for certain civil
remedies and criminal penalties; defining fraudulent
and deceptive practices in connection with take—over
offers; prescribing certain limitations with respect
to take—over offers; providing definitions; creating
exceptions; and generally relating to take—over
offers.

BY repealing and reenacting, with amendments,

Article — Corporations and Associations

Section 11-703(a), (b), (c), (f), (i), 11-705 (a)(1)

and 11-801(b)
Annotated Code of Maryland
(1975 Volume and 1975 Supplement)

BY adding to

Article — Corporations and Associations

Section 11-901 through 11-908, inclusive, to be

under the new subtitle "Subtitle 9.

Corporate Take—Over Offers"
Annotated Code of Maryland
(1975 Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED    BY THE GENERAL ASSEMBLY OF

MARYLAND, That Sections 11-703  (a), (b), (c), (f), (i),

11-705 (a)(1) and 11-801(b) of    Article - Corporations and

Associations, of the Annotated      Code of Maryland (1975

Volume and 1975 Supplement) be and they are hereby

repealed and reenacted, with      amendments, to read as
follows:

Article — Corporations and Associations

11-703.