The Delaware Corporate and Legal Services Blog has posted analysis by retiring Delaware Supreme Court Justice Jack Jacobs of recurring issues in corporate governance law.
Professor Benjamin Means of the University of South Carolina School of Law has written an article on the relationship between contract law and family businesses.
Andre Bouchard has been confirmed by the Delaware Senate to serve as the 21st Chancellor of the Delaware Court of Chancery.
Most states' limited liability company statutes contain provisions authorizing indemnification and advancement of legal expenses incurred by managers, officers, and other controlling persons resulting from lawsuits against them in their capacity as such. Generally, these provisions allow the LLC to reimburse (indemnify) these "covered persons" for any legal expenses, except where the court finds bad faith, gross negligence, or some other "bad act," and companies may go a step further and pay such expenses during the pending litigation (advancement), provided that if the covered person is found to have committed a "bad act," the advanced funds must be repaid.
The Alabama Legislature has passed the Alabama Limited Liability Company Law of 2014, a substantially revised and restated version of their prior LLC law.
Corporate and business entity taxation is a complex area, fraught with nuance. As most businesspeople are aware, however (and speaking by way of broad overgeneralization), business entities are generally taxed either as corporate or as pass-through entities.
Details at bergerharris.com.