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The "New" Model Business Corporation Act: Why States Should Adopt It

Corporate Laws Committee

The ABA Corporate Laws Committee recently completed work on a new edition of the Model Business Corporation Act. While through periodic revisions the MBCA has continued to evolve in significant ways since 1984 (the date of the last edition), the Committee has only recently undertaken a comprehensive revision of the MBCA. The revised MBCA incorporates all of the changes to the MBCA since 1984, provides consistency among provisions, and includes a streamlining and updating of the official comment. It also is designed to accommodate the Uniform Law Commissions Uniform Business Organizations Code for those states that choose to follow a hub and spoke business entity statutory approach, as well as serve as a model for those states that wish to continue with a standalone corporation statute.

The content of this program does not meet requirements for continuing legal education (CLE) accreditation. You will not receive CLE credit for participating.