North Carolina Well Takeover
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How to fill out Well Takeover?
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FAQ
Takeover Event means an offer made to all (or as nearly as may be practicable all) shareholders (or all (or as nearly as may be practicable all) such shareholders other than the offeror and/or any associate (as defined in Section 988(1) of the Companies Act) of the offeror), to acquire all or a majority of the issued ...
They are illegal events where flash mobs of spectators and cars throng specific intersections, sometimes even interstates, blocking traffic, with participants performing daredevil stunts like drifting. The birth of sideshows has been traced to 1980s Oakland where such events sprouted in mall parking lots.
A street takeover, which is sometimes called a sideshow, is when a group of people decide to meet at an intersection or large parking lot to showcase their cars and driving abilities by drifting. Mostly it looks like what I call cutting donuts, but the cool kids call it drifting.
Street takeovers are the unauthorized taking over of a part of a highway or street by blocking the flow of traffic to perform stunts, such as burnouts and donuts. Many of the incidents are recorded and later posted to social media, including a few in Uptown.
A stunt is defined as a burnout, doughnut, wheelie, or drifting (all terms further defined by statute) or other dangerous motor vehicle activity. A subsequent violation of G.S. 20-141.10(b) within a 24-month period is a Class H felony.
A takeover occurs when one company makes a successful bid to assume control of or acquire another. Takeovers can be done by purchasing a majority stake in the target firm. Takeovers are also commonly done through the merger and acquisition process.
Senate Bill 91 gives police across North Carolina the authority to seize vehicles involved in these organized events. Street takeovers are the unauthorized taking over of a part of a highway or street by blocking the flow of traffic to perform stunts, such as burnouts and donuts.