§ 2585. Application and effect of subchapter.
120 words·~1 min read·
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§ 2585. Application and effect of subchapter.
(a)General rule.-- Except as otherwise provided in this section, this subchapter shall apply to every business combination transaction relating to a business operation if such business operation was owned by a registered corporation (or any subsidiary thereof) at the time of a control-share approval with respect to the corporation (regardless of the fact, if such be the case, that such operation after the control-share approval is owned by the registered corporation or any other person).
(b)Exceptions.-- This subchapter shall not apply to:
(1)Any business combination transaction occurring more than five years after the control-share approval of the registered corporation.
(2)Any business operation located other than in this Commonwealth.
15c2586s