The American Bar Association Business Law Section Corporate Laws Committee has published the "Model Business Corporation Act (2016 Revision)," the first complete revision since 1984. The Model Act is a free-standing business corporation statute that can be enacted in its entirety by a state legislature. It is the basis for the business corporation statute in 32 states and the District of Columbia, and is the source for many provisions in the general corporation statutes of other states.
Since 2010, the Corporate Laws Committee has undertaken a thorough review and revision of the Model Act and its Official Comment. This effort has resulted in the adoption and publication of the Model Business Corporation Act (2016 Revision).
The 2016 Revision is based on the 1984 version and incorporates the amendments to the Model Act published in supplements regularly thereafter, with changes to both the act and its Official Comment. Also included are notes on adoption and revised transitional provisions that are intended to facilitate legislative consideration in adopting the new version of the Model Act.
The "Model Business Corporation Act (2016 Revised): Official Text with Official Comment and Statutory Cross-References" paperback costs $349.95 and can be ordered by calling 800-285-2221 or online at ShopABA.org.
Published: Fri, Dec 16, 2016
