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Representing Minority Shareholders in Close Corporations under Modern Business Corporations Act

Washington University Law Quarterly, Vol. 64, p. 507, 1986

53 Pages Posted: 13 Apr 2013  

Joseph Edward Olson

Hamline University - School of Law

Date Written: January 1, 1986

Abstract

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.

Keywords: Shareholders, corporation, Model Business Corporation Act, business, Model Act, Minnesota Act

JEL Classification: K2

Suggested Citation

Olson, Joseph Edward, Representing Minority Shareholders in Close Corporations under Modern Business Corporations Act (January 1, 1986). Washington University Law Quarterly, Vol. 64, p. 507, 1986. Available at SSRN: https://ssrn.com/abstract=2071241

Joseph Edward Olson (Contact Author)

Hamline University - School of Law ( email )

1536 Hewitt Avenue
Saint Paul, MN 55104-1237
United States

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