TCA § 48-103-113 — Applicability of part

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. 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. 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. 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.