Changes in the Model Business Corporation Act-Proposed Amendments to Chapters 7 and 10 Permitting Shareholders' Meetings Solely by Remote Participation

摘要

The Corporate Laws Committee of the ABA Business Law Section (the "Committee") develops and proposes changes in the Model Business Corporation Act (the "Model Act"). The Committee has approved, on second reading, proposed amendments to sections 7.01, 7.02, 7.05, 7.09, 7.20 and 10.21, and the Official Comment to sections 7.01, 7.02, 7.06, 7.09, 7.20 and 10.21, of the Model Act (the "Amendments"). The Amendments permit the board of directors to specify that the corporation's shareholders' meetings may occur solely by remote participation. The Committee invites comments from all interested persons. Comments should be addressed to David Martin, Chair, Corporate Laws Committee, Covington & Burling LLP, One City Center, 850 Tenth Street, NW, Washington, DC 20001, or sent to him by e-mail at dmartin@cov.com. Comments should be received by March 1, 2019, in order to be considered by the Committee before adoption of the Amendments on third reading.