(a) Unless displaced by the particular provisions of this chapter, the principles of law and equity shall supplement this chapter.
(b) This chapter shall not authorize any action prohibited by law or affect the application or requirements of law.
(c) A transaction effected under this chapter shall not create or impair any right or obligation on the part of a person under a provision of the law of this state relating to a change in control, takeover, business combination, control-share acquisition or similar transaction involving a domestic merging, acquired, converting or domesticating corporation unless (1) the transaction satisfies any requirements of such provision, provided the corporation does not survive the transaction, or (2) the approval of the plan is by a vote of the shareholders or directors that is sufficient to create or impair the right or obligation directly under such provision, provided the corporation survives the transaction.
(P.A. 11-241, S. 2.)
History: P.A. 11-241 effective January 1, 2014.
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