An Act relative to control share acquisitions

This bill (HD 2331) amends Massachusetts law governing "control share acquisitions" for public corporations. It clarifies that for most public companies, a "control share acquisition" occurs when a person gains voting rights exceeding certain thresholds (e.g., 20-33% or 33-50% of voting power), triggering special shareholder voting rules. Crucially, it exempts *listed closed-end funds* (investment companies registered under the federal 1940 Act) from most control share provisions, allowing them to set their own voting rules for such acquisitions through their governing documents. The bill also adds specific exemptions, such as for acquisitions before certain dates, through wills, or during mergers, and updates definitions to align with federal investment company law.