Section 18(i) of the Investment Company Act of 1940 (the Act) requires, except as set forth in therein and "as otherwise required by law," that each share of stock issued by a registered closed-end fund "shall be a voting...more
On February 8, 2022, the North American Securities Administrators Association (NASAA) announced that Maryland, Mississippi, and Vermont were among the first three states to adopt and implement continuing education...more
On May 27, 2020, the Staff of the Securities and Exchange Commission's ("SEC") Division of Investment Management (the "Division") published a Statement entitled "Control Share Acquisition Statutes" (the "Statement") in which...more
In May 2014, the Supreme Court of Delaware held that a non-stock corporation could enact bylaws that could force a shareholder to pay the corporation’s legal fees, costs, and expenses if the shareholder sues the corporation...more