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18-1154.


18-1154.
   
                        REDEMPTION OF CONTROL SHARES
                                      
   A. If authorized in a corporation's certificate of incorporation or
   bylaws before a control share acquisition has occurred, control shares
   acquired in a control share acquisition with respect to which no
   acquiring person statement has been filed with the issuing public
   corporation may, at any time during the period ending sixty (60) days
   after the last acquisition of control shares by the acquiring person,
   be subject to redemption by the corporation at the fair value thereof
   pursuant to the procedures adopted by the corporation.
   
   B. Control shares acquired in a control share acquisition are not
   subject to redemption after an acquiring person statement has been
   filed unless the shares are not accorded full voting rights by the
   shareholders as provided in Section 23 of this act.
   

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