House Journal: Page 877: Tuesday, March 19, 2002
22 2. If on the basis of the community interest
23 factors described in subsection 1, the board of
24 directors determines that a proposal or offer to
25 acquire or merge the corporation is not in the best
26 interests of the corporation, it may reject the
27 proposal or offer. If the board of directors
28 determines to reject any such proposal or offer, the
29 board of directors has no obligation to facilitate, to
30 remove any barriers to, or to refrain from impeding,
31 the proposal or offer. Consideration of any or all of
32 the community interest factors is not a violation of
33 the business judgment rule or of any duty of the
34 director to the shareholders, or a group of
35 shareholders, even if the director reasonably
36 determines that a community interest factor or factors
37 outweigh the financial or other benefits to the
38 corporation or a shareholder or group of
39 shareholders."
40 2. Page 7, by striking lines 49 and 50 and
41 inserting the following: "The commissioner and the
42 board of directors may consider the factors set forth
43 in section 490.1108 490.1108A."
44 3. By renumbering, redesignating, and correcting
45 internal references as necessary.
Amendment H-8320 was adopted.
On motion by Shey of Linn amendment H-8256, as amended, was
adopted.
Shey of Linn moved that the bill be read a last time now and
placed upon its passage which motion prevailed and the bill was read
a last time.
On the question "Shall the bill pass?" (H.F. 2509)
The ayes were, 92:
|
Alons | Arnold | Atteberry | Baudler |
|
Bell | Boal | Boddicker | Boggess |
|
Bradley | Brauns | Broers | Brunkhorst |
|
Bukta | Carroll | Chiodo | Cohoon |
|
Connors | Cormack | De Boef | Dix |
|
Dolecheck | Dotzler | Drake | Eddie |
|
Eichhorn | Elgin | Fallon | Finch |
|
Foege | Ford | Frevert | Garman |
|
Greimann | Grundberg | Hahn | Hansen |
|
Hatch | Heaton | Hoffman | Hoversten |
|
Huseman | Huser | Jacobs | Jenkins |
|
|
© 2002 Cornell College and
League of Women Voters of Iowa
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