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Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Hurricane Irma: Maximizing Insurance Recoveries

Hurricane Irma’s epic scope and wind speed suggest that affected businesses and other organizations take immediate and proactive steps to maximize insurance recovery....more

Hurricane Harvey: Insurance Implications [Updated]

Hurricane Harvey and its associated rainfall have simply devastated much of southeastern Texas. Many areas were left inaccessible, or without water or power services. Evacuation and curfew orders limited travel and...more

Corporate Law & Governance Update - June 2017

by McDermott Will & Emery on

Board Termination of the "Unethical CEO" - An important new study concludes that CEO terminations for ethical lapses (as a percentage of overall CEO successions) has dramatically increased over the last five years. The...more

Corporate Law & Governance Update - April 2017

by McDermott Will & Emery on

The following developments from the past month offer guidance on corporate law and governance law as they may be applied to nonprofit health care organizations: OVERSIGHT OF CORPORATE CULTURE - A significant emerging...more

New Law to Govern Pennsylvania Entities

Effective February 21, 2017, Pennsylvania law will change significantly for business corporations, nonprofit corporations, and especially for limited liability companies (“LLCs”), limited partnerships (“LPs”), limited...more

Corporate Law & Governance Update - February 2017

by McDermott Will & Emery on

THE #1 FIDUCIARY DUTY ISSUE OF 2017 - Positioning boards to exercise heightened engagement within the current “climate of uncertainty” is possibly the most important health system governance challenge of 2017. To...more

Do Outsiders Have Standing?

by Allen Matkins on

One of the essential elements of a contract is the consent of the parties. Cal. Civ. Code § 1550(2). When a party is not a corporation, there is always a question of whether the person or persons signing the contract have...more

Corporate Law & Governance Update - January 2017

by McDermott Will & Emery on

The following developments from the past month offer guidance on corporate law and governance law as they may be applied to nonprofit health care organizations: HEALTH POLICY INITIATIVES - Perhaps the most...more

ISO 37001: Answers to the 5 Questions We’ve Heard Most About the Standard

by NAVEX Global on

It’s been a month since ISO 37001 was published and there are some questions we have heard percolating in the compliance world about what this means. These are the questions we’ve been hearing the most...more

Benefit Corporations May Expense Payments to Charities

by Morgan Lewis on

In a General Information Letter addressing the tax treatment of benefit corporations, the Internal Revenue Service (IRS) stated that a taxable benefit corporation may deduct payments to charities as business expenses (and...more

Corporate E-Note - October 2016

by Burr & Forman on

On November 30, 2016, Burr's Women in Business is sponsoring a panel discussion on "Cybersecurity: Are You At Risk?" at Five Rivers Delta Resource Center in Spanish Fort, Alabama. The panelists include Ed Castile, Deputy...more

Corporate Law and Governance Update - October 2016

by McDermott Will & Emery on

New Officer and Director FCA/Stark Exposure - Recent developments may merit a measured briefing to corporate leadership on the potential exposure of health industry officers and directors to financial penalties and other...more

Lessons Learned from Nu Skin

by Morgan Lewis on

The enforcement action against manufacturer Nu Skin Enterprises highlights the risks of making charitable donations in high-risk countries without conducting meaningful anticorruption due diligence....more

Recent Governance and Gift-Giving Guidance from the Non-Profit/Public Charities Division

by Foley Hoag LLP on

The Non-Profit Organizations/Public Charities Division of the Office of the Attorney General (the “Division”) recently released helpful guidance regarding (i) good governance of charitable organization and (ii) the rules that...more

Investing Private Foundation Assets: What Every Foundation Manager Should Know

Those responsible for managing a private foundation’s investment assets may not always understand the unique fiduciary and tax constraints imposed on private foundations and their managers by both state and federal law....more

Corporate Law & Governance Update - September 2016

by McDermott Will & Emery on

The following developments from the past month offer guidance on corporate law and governance law as they may be applied to nonprofit health care organizations: BUSINESS ROUNDTABLE GOVERNANCE GUIDELINES - In an...more

IRS Issues Proposed Regulations Under Code Section 457 Affecting Deferred Compensation Plans of Tax-Exempt Organizations

by Littler on

The Internal Revenue Service recently issued proposed regulations under Section 457 of the Internal Revenue Code (the “Code”) that prescribe rules regarding deferred compensation plans sponsored by state and local governments...more

Red Notice Newsletter - May 2016

ANTICORRUPTION DEVELOPMENTS - Former Securency Manager Convicted of Corruption - On May 11, 2016, Peter Michael Chapman, former manager of polymer banknote manufacturer Securency PTY Ltd. (“Securency”), was...more

California Clarifies Investment Standards for Public Benefit and Religious Corporations

Without a lot of fanfare, the California State Legislature recently passed a bill that seeks to provide some clarity for charities as to how they are supposed to invest their assets. ...more

Who Files The Most Permit Applications?

by Allen Matkins on

California Corporations Code Section 25113(d) requires the Commissioner of Business Oversight to prepare and publicize an annual report of the number of permits that it issues for the offer and sale of securities. The report...more

Tax Policy Update

by McGuireWoods LLP on

NUMBER OF THE WEEK: $1.4 Trillion. The estimated total of individual income taxes the Internal Revenue Service is expecting to collect on April 15. The U.S. House of Representatives has returned from recess and is planning to...more

Tax Policy Update

by McGuireWoods LLP on

NUMBER OF THE WEEK: 3,415. The number of people who renounced their citizenship in 2014 according to IRS data. This is one of the five highest totals on record since the U.S. Congress passed the Foreign Account Tax Compliance...more

Five Changes to the Tennessee Nonprofit Corporation Act That You Need to Know

by Baker Donelson on

The following are five important changes to the Tennessee Nonprofit Corporation Act (the Act) which became effective January 1, 2015: 1. Affirmative Disclosure Requirement to Report Up the Chain of Command; 2....more

Qualifying for 501(c)(3) Tax Exempt Status is Tricky

The entities in the following IRS Technical Advice Memorandum and Private Letter Rulings failed to qualify for tax exempt status because they were not operated exclusively for exempt purposes. An organization must be...more

IRS Releases Guidance on Private Business Use, and ACOs and Management Contracts

by Cozen O'Connor on

On October 25, 2014, the Internal Revenue Service (the IRS) released Notice 2014-67 that provides interim guidance on (i) participation in the Medicare Shared Savings Program through an accountable care organization (ACO) and...more

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