Model Business Corporation Act

Acquisition of corporate stock by another corporation to lessen competition declared unlawful Exceptions Judicial order to divest.

Model business corporation act. The Model Business Corporations Act Overview The American Bar Association ABA introduced the Model Business Corporations Act for the purpose of governing corporate affairs. It is the basis for the general 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. Official Text with Official Comment Statutory Cross-References was published in December by the Business Law Sections Corporate Laws Committee.

The Model Nonprofit Corporation Act MNCA is a model act prepared by the Nonprofit Organizations Committee of the Business Law Section of the American Bar Association. Individual states have the power to promulgate laws relating to the creation organization and dissolution of corporations. This act was approved by the Business Law Section of the American Bar Association in 1964 and revised in 1987.

All persons purporting to act as or on behalf of a corporation knowing there was no incorporation under this Act are jointly and severally liable for all liabilities created while so acting. The majority of states have adopted the Model Business Corporation Act MBCA as the basis of their own state laws though each of these states has modified the provisions of the MBCA. RS 12702 - Mortgages executed by public utility corporations and cable television companies.

A corporation is a legal entity created through the laws of its state of incorporation. Model Business Corporation Act or MBCA is a body of laws designed to regulate corporate affairs uniformly across different states. Legal Resources for the Public.

The MNCA is a model set of statutes governing nonprofit corporations proposed for adoption by state legislatures. The MBCA has been influential in shaping standards for United States corporate law. The book is available to order at the Section member price of 32995 here.

The Model Act is a free-standing corporation statute that can be enacted in its entirety by a state legislation. Model Business Corporation Act. Model Business Corporation Act.