17-1292.   Same; special meeting to determine voting rights, when.(a) If the acquiring person so requests at the time ofdelivery of an acquiring person statement and gives an undertaking to paythe corporation's expenses of a special meeting, within 10 days thereafter,the directors of the issuing public corporation shall call a specialmeeting of shareholders of the issuing public corporation for the purposeof considering the voting rights to be accorded the shares acquired or tobe acquired in the control share acquisition.

      (b)   Unless the acquiring person agrees in writing to another date, thespecial meeting of shareholders shall be held within 50 days after receiptby the issuing public corporation of the request.

      (c)   If no request is made, the voting rights to be accorded the sharesacquired in the control share acquisition shall be presented to the nextspecial or annual meeting of shareholders.

      (d)   If the acquiring person so requests in writing at the time ofdelivery of the acquiring person statement, the special meeting must not beheld sooner than 30 days after receipt by the issuing public corporation ofthe acquiring person statement.

      History:   L. 1988, ch. 93, § 7; April 21.