THE MODEL BUSINESS CORPORATION ACT AND CORPORATE GOVERNANCE: AN ENABLING STATUTE MOVES TOWARD NORMATIVE STANDARDS

With the governance failures and accounting frauds at the early part of this decade and the financial meltdown at the end of the decade, the drafting body and custodian of the Model Business Corporation Act (MBCA), the Committee on Corporate Laws of the American Bar Association Section of Business L...

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Bibliographic Details
Published inLaw and contemporary problems Vol. 74; no. 1; pp. 31 - 43
Main Authors Olson, John F., Briggs, Aaron K.
Format Journal Article
LanguageEnglish
Published Durham Duke University School of Law 01.01.2011
Duke University, School of Law
Subjects
Accounting
Amendments
American bar association
Business
Commercial law
Committees
Corporate governance
Corporate liability
Corporate regulation
Corporations
Duty of care (Law)
Federal legislation
Fraud
Governance
Government and politics
Law
Laws, regulations and rules
Legal norms
Legislation
Liability
Majority voting
Negligence
Plurality voting
Professional misconduct
Proxy reporting
Proxy statements
Shareholder relations
Shareholders
Statutes
Statutory law
United States > US
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Summary:With the governance failures and accounting frauds at the early part of this decade and the financial meltdown at the end of the decade, the drafting body and custodian of the Model Business Corporation Act (MBCA), the Committee on Corporate Laws of the American Bar Association Section of Business Law, has moved, at times fitfully, but quite clearly, from the traditional enabling statute, with most governance choices left to private ordering, to the accommodation, if not embrace, of normative governance rules. Adapted from the source document.
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ISSN:0023-9186
1945-2322