HARRY HUGHES, Governor

869

being and may not be solicited, until the expiration of the
period prescribed by subsection (a) of this section, and
specifying the date on which offers may first be made. A
target company may, but need not, mail a copy of this notice
of intention to its stockholders, but is not responsible for
the contents of the notice of intention.

(D) THE OFFEROR SHALL PROVIDE THE TARGET COMPANY WITH

A SUFFICIENT NUMBER OF COPIES OF THE STATEMENT FOR

DISTRIBUTION TO THE TARGET COMPANY'S EMPLOYEES. THE TARGET
COMPANY SHALL DISTRIBUTE THE STATEMENT TO ITS EMPLOYEES
WITHIN 10 DAYS AFTER THE COMPANY RECEIVES THEM.

(D) IN ADDITION TO OTHER POWERS OF THE COMMISSIONER,
THE COMMISSIONER, BY RULE OR ORDER, MAY MODIFY, SUSPEND, OR
EXEMPT TRANSACTIONS FROM PARTICULAR PROVISIONS OF THIS
SUBTITLE TO THE EXTENT THE COMMISSIONER DEEMS SUCH ACTION
NECESSARY OR APPROPRIATE TO MAKE THEIR APPLICATIONS
REASONABLY CONSISTENT WITH THE SECURITIES EXCHANGE ACT OF
1934.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980 is hereby declared to be an
emergency measure and necessary for the immediate
preservation of the public health and safety and having been
passed by a yea and nay vote supported by three-fifths of
all the members elected to each of the two Houses of the
General Assembly, the same shall take effect from the date
of its passage.

Approved April 8, 1980.

CHAPTER 120

(House Bill 931)

AN ACT concerning

Program Open Space - Allocations for Fiscal Year 1980

FOR the purpose of designating Program Open Space projects
to be funded under the Outdoor Recreation Land Loan of
1969 during fiscal year 1980; resolving any possible
doubt about the validity and effectiveness of this
designation which might arise from a conclusion that it
is a contraction of State debt requiring in the same
law a provision for collection of an annual tax or
taxes to cover principal and interest payments on that
debt; relating generally to the provisions of the
Outdoor Recreation Land Loan of 1969; and making this
Act an emergency measure.

BY repealing and reenacting, without amendments,