Changes in the Model Business Corporation Act-Amendment to Section 6.24, Adoption of Section 8.26 ('Force the Vote') and Related Amendments to Chapters 9, 10, 11, 12, and 14

摘要

The Committee on Corporate Laws of the ABA Section of Business Law from time to time makes changes in the Model Business Corporation Act. By publication after second reading in the February 2008 issue of The Business Lawyer, the Committee proposed to add to the Model Act section 8.26, generally authorizing "force the vote" agreements, together with amendments to related provisions of Chapters 9, 10, 11, 12, and 14 of the Act. In that same issue the Committee published after second reading changes to section 6.24 and the related Official Comment. Comments on both proposals were requested, but none was received. At its meeting on June 14, 2008, the Committee adopted the amendments to Chapters 8, 9, 10, 11, 12 and 14 upon third and final reading in the form previously published. At the same meeting, the Committee also approved the amendment to section 6.24 upon third and final reading with, however, minor language changes from the form previously published. The changes to section 6.24 are set forth below.