N.Y. Business Corporation Law 1606 – Administration
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§ 1606. Administration.
Terms Used In N.Y. Business Corporation Law 1606
- offeror: includes an issuer of securities whose securities are or are to be the subject of a takeover bid whether or not the issuer, upon acquisition, will become the beneficial owner of such securities. See N.Y. Business Corporation Law 1601
- Takeover bid: means the acquisition of or offer to acquire by an offeror from an offeree, pursuant to a tender offer or request or invitation for tenders, any equity security of a target company, if after acquisition thereof the offeror would, directly or indirectly, be a beneficial owner of more than five percent of any class of the issued and outstanding equity securities of such target company. See N.Y. Business Corporation Law 1601
(a) This article shall be administered by the attorney general and employees designated by him within the department of law. The attorney general is hereby empowered to promulgate, alter, amend or revoke rules and regulations necessary to carry out the purposes of this article.
(b) The attorney general may establish fees for the filing of any registration statement, not to exceed two thousand five hundred dollars, to recover the costs of administering this article. Such fees may vary according to the maximum consideration payable by the offeror for the securities which are the subject of the takeover bid.