Section 10.55.103. Relationship of this chapter to other laws.

   (a) Unless displaced by particular provisions of this chapter, the principles of law and equity supplement this chapter.
   (b) Except as expressly provided in this chapter, this chapter does not authorize an act prohibited by, and does not affect the application or requirements of, law other than this chapter.
   (c) A transaction accomplished under this chapter may not create or impair any right or obligation of a person under a provision of the law of this state other than this chapter relating to a change in control, takeover, business combination, control-share acquisition, or similar transaction involving a domestic merging, acquired, converting, or domesticating corporation unless,
        (1) if the corporation does not survive the transaction, the transaction satisfies any requirements of the provision; or
        (2) if the corporation survives the transaction, the approval of the plan is by a vote of the shareholders or directors that would be sufficient to create or impair the right or obligation directly under the provision.

Notes

History

(Sec. 10 ch 60 SLA 2013)