Section 51A-17-78 - Acquisition of control-ExceptionsThe requirements of subdivisions 51A-17-72(1) and (2) do not apply to any of the following:
(1) A person that acts as a proxy for the sole purpose of voting at a designated meeting of the shareholders or holders of voting shares or voting interests of a licensee or a person in control of a licensee;(2) A person that acquires control of a licensee by devise or descent;(3) A person that acquires control of a licensee as a personal representative, custodian, guardian, conservator, or trustee, or as an officer appointed by a court of competent jurisdiction or by operation of law;(4) A person that is exempt under subdivision 51A-17-53(7);(5) A person that the director determines is not subject to subdivision 51A-17-72(1) based on the public interest;(6) A public offering of securities of a licensee or a person in control of a licensee; or(7) An internal reorganization of a person in control of the licensee where the ultimate person in control of the licensee remains the same.Added by S.L. 2024, ch. 196,s. 27, eff. 7/1/2024.