Model Business Corporation Act

Definition

The Model Business Corporation Act is a set of model statutes designed to standardize and provide guidance on corporate law in the United States. It offers a blueprint for states to follow or adapt when developing their own corporate statutes, ensuring consistency and clarity in corporate governance and operations.

Related terms

Corporate Governance:

The system of rules, practices, and processes by which a corporation is directed and controlled.

Articles of Incorporation:

A document filed with a state government to legally document the creation of a corporation.

Shareholder: An individual or institution that owns one or more shares of stock in a public or private corporation, making them partial owners of that corporation