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Board of Directors Articles of Incorporation

Allen Matkins

Does Guzman Supply An Answer To Moelis?

Allen Matkins on

I always enjoy hearing from readers of this blog.  Recently, I wrote: Reading these statutes together, it is relatively clear that Nevada, like Delaware, permits the articles of incorporation to vary the mandate that...more

Allen Matkins

Don't Be Caught Inquorate! Some Key, But Subtle, Differences In California's And Nevada's Board Quorum Requirements

Allen Matkins on

California Corporations Code Section 307(a)(7) provides that a "majority of the authorized number of directors constitutes a quorum for the transaction of business".  Thus, if the authorized number of directors is 7 and there...more

Allen Matkins

How Will The Secretary Of State Know A Corporation's Purpose?

Allen Matkins on

Yesterday I wrote about my concern that about the constitutionality of  SB 1168 (Limón).  This bill  would allow the California Secretary of State to cancel the articles of incorporation or the filing of a statement and...more

Allen Matkins

Does California Or Colorado Law Apply To The Articles Of Incorporation of A Colorado Corporation?

Allen Matkins on

I suspect that many practitioners would assume that the law of the state of incorporation would determine the viability of an exculpation clause in a corporation's articles of incorporation.  Thus, I was surprised to read...more

Allen Matkins

If Corporate Charters Are Contracts, Must They Be Signed By The Corporation?

Allen Matkins on

Recently, Professor Ann Lipton wrote that the California Supreme Court has granted review of EpicentRx, In.c v. Superior Court, 95 Cal. App. 5th 890 (2023), review granted 539 P.3d 118 (2023).   This was a case that I...more

Smith Anderson

Recent Amendments to the North Carolina Business Corporation Act - Update

Smith Anderson on

The Business Law Section of the North Carolina Bar Association was active this past year in proposing certain changes to the North Carolina Business Corporation Act. Below is a summary of the amendments that were adopted this...more

Allen Matkins

Amending Articles Of Incorporation When The Corporation No Longer Exists - Here's How

Allen Matkins on

California Corporations Code Section 204(a)(4) permits the articles of incorporation to include a provision limiting the duration of a corporation's existence to a specified date.  I very seldom encounter such as provision in...more

Foley & Lardner LLP

Who Can Approve Equity Awards?

Foley & Lardner LLP on

A multitude of questions over who must approve the grant of equity awards frequently arise when designing equity compensation programs. Do shareholders need to approve the grant? Is approval from the Board of Directors...more

Venable LLP

Officer Exculpation - Delaware and Maryland

Venable LLP on

Effective August 1, 2022, Delaware amended its General Corporation Law (the "DGCL") to permit the certificate of incorporation of a Delaware corporation to provide for exculpation of officers from liability to the corporation...more

Allen Matkins

Is The Right To Sue Officers A Power, Preference Or Special Right?

Allen Matkins on

Earlier this month the Electrical Workers Pension Fund, Local 103, I.B.E.W. filed a verified class action complaint in the Delaware Court of Chancery against Fox Corporation.  (Case No. 2022-1007-MTZ (filed Nov. 4, 2022)). ...more

Allen Matkins

Documents Filed With The Secretary Of State Do Not Qualify For Anti-SLAPP Protection

Allen Matkins on

An individual formed a nonprofit public benefit corporation, Xi'an Jiaotung University Alumni Association of Norther California by filing articles of incorporation with the California Secretary of State.  Thereafter, he filed...more

Royer Cooper Cohen Braunfeld LLC

The (Failed) Failing Business Exception: Stockholders’ Right to Vote on Asset Transfers

In Stream T.V. Networks, Inc. v. SeeCubic, Inc., the Delaware Supreme Court (“Court”) held that section 271 of the Delaware General Corporation Law (“D.G.C.L”), which requires stockholder approval for a Delaware corporation...more

Allen Matkins

For A Limited Time Only - California Is Giving Away Corporations, LLCs And More!

Allen Matkins on

 As a result of the recent enactment of California's 2022-2023 Budget Bill, the California Secretary of State's office as announced a temporary waiver of many business entity filing fees.  This waiver will last until June 30,...more

Hogan Lovells

Propuesta de Reforma a la Ley General de Sociedades Mercantiles en Materia de Asambleas Telemáticas

Hogan Lovells on

En fechas recientes, la Comisión de Economía, Comercio y Competitividad de la Cámara de Diputados hizo público su dictamen a la iniciativa con proyecto de decreto por el que se reforman y adicional diversas disposiciones de...more

International Lawyers Network

Establishing A Business Entity In England (Updated)

The attractiveness of the United Kingdom as a business location is unabated. There are many advantages to doing business in the UK. Investors can draw on a skilled workforce and access a large market; costs of labour and...more

International Lawyers Network

Establishing A Business Entity In Cyprus (Updated)

Cyprus is an EU member state and a common law jurisdiction with a legal system similar to that of the UK. It is located at the eastern end of Europe linking 3 continents, Europe, Africa and Asia and it has a long and strong...more

International Lawyers Network

Establishing A Business Entity In England (Updated)

The attractiveness of the United Kingdom as a business location is unabated. There are many advantages to doing business in the UK. Investors can draw on a skilled workforce and access a large market; costs of labour and...more

Allen Matkins

Amending The Articles Without Approval By The Outstanding Shares

Allen Matkins on

California Corporations Code Section 902 generally requires that amendments to the articles of incorporation must be approved by the outstanding shares and the Board of Directors.  The statute lists three instances when the...more

International Lawyers Network

Establishing A Business Entity In Cyprus (Updated)

1. INTRODUCTION - Having been a former British colony for several years of its history (from 1878 until its independence in 1960), the legal system of the Republic of Cyprus (hereinafter “Cyprus”) follows, to a great...more

Ward and Smith, P.A.

Heavy Is the Head That Wears the Crown: Board of Director Authority in a Community Association

Ward and Smith, P.A. on

The Board of Directors for a Community Association functions in a very similar capacity as the Board of a standard corporation. Approximately 95% of all decisions to be made on behalf of a Community Association will be...more

McDermott Will & Emery

Massachusetts Provides Flexibility for Ch. 180 Corporation Governance During COVID-19

In April 2020, Massachusetts enacted emergency legislation that eases certain corporate governance requirements for the duration of the Commonwealth’s state of emergency, declared by the Governor on March 10, 2020, and for 60...more

Faegre Drinker Biddle & Reath LLP

Delaware Supreme Court Upholds Federal Forum Selection Provisions Requiring Securities Claims Be Brought in Federal Court

In its highly anticipated decision in Salzberg v. Sciabacucchi, No. 346, 2019 (Del. Mar. 18, 2020), the Delaware Supreme Court confirmed the facial validity of a provision contained in certificates of incorporation of many...more

Allen Matkins

Breaking Bad At Board Meetings

Allen Matkins on

Suppose that the articles of incorporation of a California corporation provide that the authorized number of directors is 7.  Unless the articles or bylaws provide otherwise, the attendance of 4 directors will constitute a...more

International Lawyers Network

Establishing a Business Entity in France (Updated)

1. Types of Business Entities - • Description of the types of entities available in each jurisdiction through which to conduct business - Business may be conducted in France either through a French branch of a foreign...more

International Lawyers Network

Establishing A Business Entity In England (Updated)

The attractiveness of the United Kingdom as a business location is unabated. There are many advantages to doing business in the UK. Investors can draw on a skilled workforce and access a large market; costs of labour and...more

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