80B.07 ADMINISTRATION, RULES AND ORDERS.
Subdivision 1.
Commissioner's powers generally. In administering the provisions of
sections
80B.01 to
80B.13, the commissioner may exercise all powers granted under chapter 80A,
which are not inconsistent with sections
80B.01 to
80B.13.
Subd. 2.
Rulemaking. The commissioner may make and adopt such rules and forms as are
necessary to carry out the purposes of sections
80B.01 to
80B.13, including, without limitation,
rules defining terms used in sections
80B.01 to
80B.13.
Subd. 3.
Exemption authority. The commissioner may by rule or order exempt from any
provisions of sections
80B.01 to
80B.13 any proposed takeover offer or any category or type
of takeover offer which the commissioner determines does not have the purpose or effect of
changing or influencing the control of a target company or where the commissioner determines
that compliance with sections
80B.01 to
80B.13 is not necessary for the protection of the offerees.
History: 1973 c 331 s 7; 1974 c 406 s 99; 1980 c 516 s 2; 1984 c 488 s 11; 1Sp1985 c 5 s
11; 1986 c 444