Sentence examples for corporate statutes from inspiring English sources
As of 2016, 1,700 B Corporations were certified in 50 countries and 3,000 more companies registered as benefit corporations under state corporate statutes.
Many other states have similar provisions in their corporate statutes.
There is, however, a vast body of corporate statutes and case law that protects shareholders.
The Financial Times reported today that Guinness apparently supplied the funds for the $10.9 million purchase of its own shares, a possible breach of British corporate statutes.
In 2000, Delaware amended its corporate statutes to allow companies to "disclaim" classes and categories of corporate opportunities, thereby permitting officers, directors, or dominant shareholders to pursue such opportunities with diminished fear of irreconcilable fiduciary duties.
In its analysis, the court stated that the forum selection bylaws regulate a proper subject matter under Delaware's corporate statute and that, as a contractual matter, the stockholders assented to the forum selection bylaws because the boards of directors had the authority under the corporations' respective certificates of incorporation to unilaterally adopt bylaws.
Duty is another core corporate governance mechanism, and also a central part of benefit corporation statutes.
The Court in Merchants' Loan was specifically interpreting a 1916 statute imposing income taxes on individuals and estates (among other kinds of entities), and not the 1909 corporate tax statute.
Appellants contend that § 157 is a corporate financing statute, and that nothing in its legislative history suggests a purpose that has anything to do with corporate control or a takeover defense.
However, with increasing frequency it appears that the Department of Justice and the Securities and Exchange Commission have transformed FCPA enforcement into a free-for-all corporate ethics statute in which any conduct the enforcement agencies find objectionable is fair game to extract a multi-million dollar settlement from a risk-averse corporation.
