17-1294.   Same; voting rights of control shares; resolution.(a) Control shares acquired in a control share acquisitionhave the same voting rights as were accorded the shares before the controlshare acquisition only to the extent granted by resolution approved by theshareholders of the issuing public corporation.

      (b)   To be approved under this section, the resolution must be approved by:

      (1)   The affirmative vote of a majority of all outstanding sharesentitled to vote in the election of directors voting by class if requiredby the terms of the shares; and

      (2)   the affirmative vote of a majority of all outstanding sharesentitled to vote in the election of directors voting by class if requiredby the terms of the shares, excluding all interested shares.

      History:   L. 1988, ch. 93, § 9; April 21.