This new program examines the governance requirements, including fiduciary duties, in both Massachusetts and Delaware, for corporations and limited liability companies—the most common forms of business entities.
The panelists analyze the roles and responsibilities of corporate directors and LLC managers, the unique Massachusetts rule on duties of shareholders in a close corporation compared to the Delaware approach, the extent to which governance rules may be varied by agreement, and the emerging changes in judicial review of compliance with fiduciary duties in Delaware and their relevance for Massachusetts. The veteran faculty review the relevant statutory provisions and judicial doctrines in each state for each of the entities, highlighting differences both between states and entities. They then guide you through how these rules affect drafting decisions, and the advice lawyers give to their clients in a variety of typical situations. Hypotheticals bring the various situations to life and actual forms are analyzed.
The stellar panel features a corporate counsellor, an adviser to LLCs, a Delaware corporate law expert, and a principal drafter of relevant provisions of the Massachusetts Business Corporation Act and the ABA Model Business Corporation Act. Bring your questions and join the dialogue!
MCLE webcasts are delivered completely online, underscoring their convenience and appeal. There are no published print materials. All written materials are available electronically only. They are posted 24 hours prior to the program and can be accessed, downloaded, or printed from your computer.