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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 ...
Case history; Prior: Compagnie Francaise de Navigation à Vapeur v. State Board of Health, 25 So. 591 (La. 1899) Holding; State quarantine law is reasonable exercise of police power in absence of federal preemption, and does not impermissibly affect interstate commerce nor violate Equal Protection, Due Process clauses or treaties with foreign governments.
In 1950, the Committee promulgated its own Model Business Corporation Act. The Uniform Business Corporation Act was withdrawn by the Uniform Laws Commissioners in 1958. After that, the Committee continued to review and periodically revise the MBCA, and, in 1984, it published a complete revision. Since 1984, the Committee has continued to review ...
The notion of a legally sanctioned corporation remains controversial for several reasons, most of which stem from the granting of corporations both limited liability on the part of its members and the status and rights of a legal person. Some opponents to this granting of "personhood" to an organization with no personal liability contend that ...
The business judgment rule is a case-law-derived doctrine in corporations law that courts defer to the business judgment of corporate executives. It is rooted in the principle that the "directors of a corporation ... are clothed with [the] presumption, which the law accords to them, of being [motivated] in their conduct by a bona fides regard for the interests of the corporation whose affairs ...
In a memo obtained by Scripps News, newly-confirmed U.S. Office of Management and Budget Director Russell Vought announced he has been made the acting director of the Consumer Financial Protection ...
The Louisiana Revised Statutes provide that the maximum penalty for the violation of a parish ordinance is a fine of $500 and imprisonment for 30 days in the parish jail, [9] and that the maximum penalty for the violation of an ordinance of a municipality organized under the mayor and board of aldermen form of government is a fine of $500 and ...
A low-profit limited liability company (L3C) is a legal form of business entity in the United States. [1] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [1]