Opportunity to Provide Feedback on Model Business Corporation Act Update
October 31, 2019
The Iowa State Bar Association (ISBA) reached out to ABI about its draft of proposed revisions to the Model Business Corporation Act (MBCA). ISBA is seeking feedback from stakeholders that would be affected by it and wanted to share it with us since ABI represents thousands of Iowa businesses. As way of background, Iowa, along with 33 others states and the District of Columbia, have generally followed the MBCA when it comes to enacting law governing business corporations. The MBCA is published by the American Bar Association’s Corporate Laws Committee. The ISBA Business Law Section reviewed the latest edition of the MBCA and compared it to the MBCA currently in Iowa Code Chapter 490–the Iowa Business Corporation Act–thus recommendations were put forward. If you have any comments or feedback on the proposal, please contact Nicole Crain or Brad Hartkopf by Friday, Nov. 15.