Abstract

The following was originally prepared as a memo to clients and other interested persons from Venable LLP, the leading law firm in Maryland, which is the state of formation for more New York Stock Exchange-listed companies than any state other than Delaware. As Maryland has an exceptionally well-developed general corporation statute, based in many respects on the Model Business Corporation Act (US), we are happy to pass along, with Venable’s kind permission, these occasional memos. Jim Hanks, one of the authors of this memo, assisted in the drafting of the South African Companies Act, 2008.