Representing Minority Shareholders in Close Corporations under Modern Business Corporations Act
Joseph Edward Olson
Hamline University - School of Law
January 1, 1986
Washington University Law Quarterly, Vol. 64, p. 507, 1986
This article discusses representing minority shareholders under modern corporation statute based on the Model Business Corporation Act. Passage through the thicket of problems that such representation presents is a learning experience never to be forgotten. Counsel will have found a statute strongly biased in favor of management and the corporation’s majority shareholders, a common law of corporations which until recently turned a cold shoulder to the legitimate needs of minority shareholders, and if the counselor were a corporate specialist, his own “cultural” bias toward his usual client class – those in control of the enterprise.
Number of Pages in PDF File: 53
Keywords: Shareholders, corporation, Model Business Corporation Act, business, Model Act, Minnesota Act
JEL Classification: K2
Date posted: April 13, 2013
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