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Model Business Corporation Act
The Model Business Corporation Act (MBCA) is a model act promulgated and periodically amended by the Corporate Laws Committee of the Business Law Section of the American Bar Association("Committee"). The MBCA has been adopted by 36 states and other jurisdictions. The MBCA provides a modern body of statutory corporate law that is regularly updated by the Committee based on judicial decisions, recent legislative enactments, and other legal and technological developments. It is a statute for business (stock) corporations that covers a number of areas, including formation, governance and director conduct and liability. The MBCA has been influential in shaping standards for United States corporate law. History In 1928, the Commissioners on Uniform State Laws promulgated a Uniform Business Corporation Act, which was subsequently adopted by three states, Louisiana, Washington and Kentucky, and partially adopted by a fourth, Idaho. Although uniform state legislation offers benefits in c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Model Act
A model act, also called a model law or a piece of model legislation, is a suggested example for a law, drafted centrally to be disseminated and suggested for enactment in multiple independent legislatures. The motivation classically has been the hope of fostering more legal uniformity among jurisdictions, and better practice in legislative wording, than would otherwise occur; another motivation sometimes has been lobbying disguised under such ideals. Model laws can be intended to be enacted verbatim, to be enacted after minor modification, or to serve more as general guides for the legislatures. Model laws are especially prevalent in federations because the federal subjects (for example, states, provinces, or other subjects) are autonomous or semi-autonomous but nonetheless can benefit from a substantial degree of uniformity of laws among jurisdictions. For example, in the United States, because the country consists of 50 semi-autonomous states, each with its own legislature an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Bar Association
The American Bar Association (ABA) is a voluntary association, voluntary bar association of lawyers and law students in the United States; national in scope, it is not specific to any single jurisdiction. Founded in 1878, the ABA's stated activities are the setting of academic standards for law schools, and the formulation of model ethical codes related to the legal profession. As of fiscal year 2017, the ABA had 194,000 dues-paying members, constituting approximately 24.4% of American attorneys. In 1979, half of all lawyers in the U.S. were members of the ABA. In 2016, about one third of the 1.3 million practicing lawyers in the U.S. were included in the ABA membership of 400,000, with figures largely unchanged in 2024. The organization's national headquarters are in Chicago, Illinois, with a branch office in Washington, D.C.. The association is affiliated with the law, legal, and professional research sponsoring organization the American Bar Foundation. History The ABA wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Corporate Law
United States corporate law regulates the governance, finance and power of corporations in US law. Every state and territory has its own basic corporate code, while federal law creates minimum standards for trade in company shares and governance rights, found mostly in the Securities Act of 1933 and the Securities and Exchange Act of 1934, as amended by laws like the Sarbanes–Oxley Act of 2002 and the Dodd–Frank Wall Street Reform and Consumer Protection Act. The US Constitution was interpreted by the US Supreme Court to allow corporations to incorporate in the state of their choice, regardless of where their headquarters are. Over the 20th century, most major corporations incorporated under the Delaware General Corporation Law, which offered lower corporate taxes, fewer shareholder rights against directors, and developed a specialized court and legal profession. Nevada has attempted to do the same. Twenty-four states follow the Model Business Corporation Act, while New Y ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Corporate Law
United States corporate law regulates the governance, finance and power of corporations in US law. Every state and territory has its own basic corporate code, while federal law creates minimum standards for trade in company shares and governance rights, found mostly in the Securities Act of 1933 and the Securities and Exchange Act of 1934, as amended by laws like the Sarbanes–Oxley Act of 2002 and the Dodd–Frank Wall Street Reform and Consumer Protection Act. The US Constitution was interpreted by the US Supreme Court to allow corporations to incorporate in the state of their choice, regardless of where their headquarters are. Over the 20th century, most major corporations incorporated under the Delaware General Corporation Law, which offered lower corporate taxes, fewer shareholder rights against directors, and developed a specialized court and legal profession. Nevada has attempted to do the same. Twenty-four states follow the Model Business Corporation Act, while New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Delaware General Corporation Law
The Delaware General Corporation Law (sometimes abbreviated DGCL), officially the General Corporation Law of the State of Delaware (Title 8, Chapter 1 of the Delaware Code), is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. The statute was adopted in 1899. Since the 1913 anti-corporation reforms in New Jersey under the governorship of Woodrow Wilson, Delaware has become the most prevalent jurisdiction in United States corporate law and has been described as the ''de facto'' corporate capital of the United States. Delaware is considered a corporate haven because of its business-friendly/anti-consumer corporate laws compared to most other U.S. states. 66% of the ''Fortune'' 500, including Walmart and Amazon (two of the world's largest companies by revenue) are incorporated (and therefore have their domiciles for service of process purposes) in the state. Over half of all publicly traded corporations listed in the New York Stock Exc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Exchange Act
The Securities Exchange Act of 1934 (also called the Exchange Act, '34 Act, or 1934 Act) (, codified at et seq.) is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States of America. A landmark piece of wide-ranging legislation, the Act of '34 and related statutes form the basis of regulation of the financial markets and their participants in the United States. The 1934 Act also established the Securities and Exchange Commission (SEC), the agency primarily responsible for enforcement of United States federal securities law. Companies raise billions of dollars by issuing securities in what is known as the primary market. Contrasted with the Securities Act of 1933, which regulates these original issues, the Securities Exchange Act of 1934 regulates the secondary trading of those securities between persons often unrelated to the issuer, frequently through brokers or dealers. Trillions of dollars are made and lost each year thr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Company Law
British company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directive (European Union), Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth of Nations, Commonwealth and as an international standard setter, British law has always given people broad freedom to design the i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uniform Acts
In the United States, a uniform act is a proposed State law (United States), state law drafted and approved by the Uniform Law Commission (ULC), also known as the National Conference of Commissioners on Uniform State Laws (NCCUSL). Federalism in the United States traditionally limits the legislative authority of the Federal government of the United States, federal government in favor of the U.S. state, states. Specifically, the Tenth Amendment to the United States Constitution, Tenth Amendment of the U.S. Constitution, United States Constitution states that "powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people". Therefore, state governments are free to enact unique laws in any area beyond the purview of federal preemption. Under Erie doctrine, the doctrine of ''Erie Railroad Co. v. Tompkins'' (1938), federal courts cannot dictate law to states on pure issues of state common law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
