Chapter 80B — Registration of Takeover Offers

80B.01 Definitions This section defines key terms used in Minnesota's corporate takeover law. It explains what words like affiliate, … 80B.02 This section requires anyone making a takeover offer for a Minnesota target company to file a registration statement … 80B.03 Registration of Takeover Offers This section gives the commissioner of commerce the power to hold a hearing on a takeover offer. The commissioner can … 80B.04 Filing of Solicitation Materials This section requires that offerees (shareholders) in a takeover have at least 20 days to decide whether to accept the … 80B.05 Fraudulent and Deceptive Practices This section makes it illegal to use false, misleading, or incomplete information in connection with a takeover offer. … 80B.06 Limitations on Offerors This section requires a target company that recommends for or against a takeover offer to file its position with the … 80B.07 Administration, Rules and Orders This section gives the commissioner of commerce the power to make rules, hold investigations, and issue orders to … 80B.08 Fees and Expenses This section lists exemptions from the takeover law. It does not apply to offers made through a national stock exchange, … 80B.09 Injunctions This section allows courts to issue injunctions to stop violations of the takeover law. The commissioner, the target … 80B.10 Penalties This section establishes civil liability for people who violate the takeover law. Any person who buys or sells … 80B.11 Civil Liabilities This section makes it a gross misdemeanor to willfully violate the takeover law. The criminal penalty can include fines … 80B.12 Application of Corporate Takeover Law This section explains how the takeover law works with federal securities laws. Minnesota's law applies alongside federal … 80B.13 Application of Securities Law This section was repealed in 1998. It previously contained provisions related to the takeover offers law.