(a) This part does not apply to 'state banks' as defined in § 45-1-103, to 'savings and loan associations,' as defined by § 45-3-104, or to 'public utilities,' as defined by § 65-4-101.(b) If the offeree company is a domestic insurance company whose takeover is subject to title 56, chapter 10, part 2, this part shall not apply and title 56, chapter 10, part 2 shall control. For purposes of this section, 'domestic insurance company' has the meaning as that set forth in § 56-10-201.(c) This part shall not apply to public utilities, public utility holding companies, national banking associations, bank holding companies or savings and loan associations subject to regulation by a federal agency.(d) This part shall not apply to any offer involving a vote by holders of equity securities of the offeree company, pursuant to its charter or articles of incorporation or the applicable corporation statute, on a merger, consolidation or sale of corporate assets in consideration of the issuance of securities of another corporation, or on a sale of its securities in exchange for cash or securities of another corporation.Acts 1976, ch. 536, § 2; impl. am. Acts 1978, ch. ration of the issuance of securities of another corporation, or on a sale of its securities in exchange for cash or securities of another corporation.Acts 1976, ch. 536, § 2; impl. am. Acts 1978, ch. 708, §§ 1.04, 5.25, 6.01; 1979, ch. 315, § 1; T.C.A., §§ 48-2114, 48-5-114, 48-35-113.
Tennessee Legal Code