48-103-113 - Applicability of part. - Tennessee Statutes

48-103-113. Applicability of part.

(a)  This part does not apply to “state banks” as defined in § 45-1-103, to “savings and loan associations,” as defined by § 45-3-104, or to “public utilities,” as defined by § 65-4-101.

(b)  If the offeree company is a domestic insurance company whose takeover is subject to the provisions of title 56, chapter 10, part 2, this part shall not apply and the provisions of title 56, chapter 10, part 2 shall control. For purposes of this section, “domestic insurance company” has the meaning as that set forth in § 56-10-201.

(c)  This part shall not apply to public utilities, public utility holding companies, national banking associations, bank holding companies or savings and loan associations subject to regulation by a federal agency.

(d)  This part shall not apply to any offer involving a vote by holders of equity securities of the offeree company, pursuant to its charter or articles of incorporation or the applicable corporation statute, on a merger, consolidation or sale of corporate assets in consideration of the issuance of securities of another corporation, or on a sale of its securities in exchange for cash or securities of another corporation.

[Acts 1976, ch. 536, § 2; impl. am. Acts 1978, ch. 708, §§ 1.04, 5.25, 6.01; 1979, ch. 315, § 1; T.C.A., §§ 48-2114, 48-5-114, 48-35-113.]