10-2256. Authority to become
shareholders
Notwithstanding any other rule or provision of law or any provision in their
respective charters, agreements of association, articles or organization, certificates or
articles of incorporation to the contrary, all persons, except banks and savings and loan
associations, organized for the purpose of doing or authorized to do business within this
state, including without implied limitation any railroad or transportation corporation or
other public utility, are authorized to acquire, purchase, hold, sell, assign, transfer,
mortgage, pledge or otherwise dispose of any bonds, securities, or other evidences of
indebtedness created by or the shares of the capital stock of a corporation, and while
owners of the stock, to exercise all the rights, powers and privileges of ownership
without the approval of any regulatory authority of this state.
|