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
Date Written: January 1, 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.
Keywords: Shareholders, corporation, Model Business Corporation Act, business, Model Act, Minnesota Act
JEL Classification: K2
Suggested Citation: Suggested Citation