North Carolina H388 amends the Business Corporations Act to clarify provisions for officer exculpation, emergency bylaws, derivative proceedings.
North Carolina H388 amends the Business Corporations Act to provide for officer exculpation, clarify provisions for emergency bylaws and emergency powers, revise derivative proceeding procedures, clarify provisions for mergers between parent entities and subsidiary corporations, and prohibit the issuance of scrip in bearer form. The bill also makes clarifying and technical changes regarding the authority of board committees and the selection of exclusive forum for internal corporate claims.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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