In This Issue:
JOBS Act: Jumpstart Our Business Startups Act; Fracking: Ohio’s New Oil and Gas Boom; 2012 Estate Planning; American Airlines: Who’s Flying the Plane? Labor Law Update; S Corporations; Blow to Method Patents; and, Corporation/LLC Law Update.
Excerpt from Amendments to Ohio General Corporation and Limited Liability Company Laws:
In close consultation with the Ohio State Bar Association, the Ohio General Assembly made significant amendments to the Ohio General Corporation Law, Chapter 1701 of the Ohio Revised Code, which became effective May 4, 2012. Conforming amendments were also made to the Non-Profit Corporation Law in Chapter 1702. Key amendments to Chapter 1701 are as follows:
• General Corporation Law and Nonprofit Corporation Law now provide that the right to indemnification or advancement of expenses arising under a provision of the articles of incorporation or the regulations of a corporation cannot be impaired or eliminated after the act or omission has occurred, unless the indemnification provision permits elimination or impairment after the act or omission has occurred...
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