354.520. Mergers, consolidations, control of organization, requirements. - Missouri Statutes

Mergers, consolidations, control of organization, requirements.

354.520. No person may take a tender for, or a request orinvitation for tenders of, or enter into an agreement to exchangesecurities for, or acquire in the open market or otherwise, anyvoting security of a health maintenance organization, nor enterinto any other agreement which if, after the consummationthereof, that person would, directly or indirectly, or byconversion or by exercise of any right to acquire, be in controlof the health maintenance organization. No person may enter intoan agreement to merge or consolidate with, or to otherwiseacquire control of a health maintenance organization, unless, atthe time any offer, request, or invitation is made, or anyagreement is entered into, or prior to the acquisition of thesecurities if no offer or agreement is involved, the person hasfiled with the director, and has sent to the health maintenanceorganization, information required by chapter 382, RSMo, and theoffer, request, invitation, agreement, or acquisition has beenapproved by the director. Such approval by the director shall begoverned by the provisions of chapter 382, RSMo.

(L. 1983 H.B. 127)