From Beginning To Modifications: The Uniform Business Corporation Act

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Brynjil Hyde LA326.XB1.12EFAL Corporate Business Structures Unit 10 Research Paper September 22, 2012 From Beginning to Modifications The “Uniform Business Corporation Act” was created in 1928 and only adopted by three states. (Law, 2008) In 1943 the Uniform Business Corporation Act was renamed and called what is known now as the Model Business Corporation Act. (Law, 2008) According to the American Bar Association it is now adopted by 32 states including Minnesota. Though they are very similar there are still some differences. When starting this initial process the MBCA pretty much agrees to whatever each individual state requires. They support the rules of each secretary of state and standby what their preferences are. This shows that MBCA is willing to bend and flex with other states so there is not a huge conflict.…show more content…
These articles are to be filed with the secretary of state. (302A.151 FILING ARTICLES, 2012) MBCA is a little more detailed about how the filing should be done. For example it the document must be typewritten or printed, it must be in the English language, unless there is a certificate of existence required from a foreign corporation. (Business Corporations, 2012) When it comes to what articles need to be filed, MMBA is more specific as it should be. MBCA simply states that whatever the secretary of state wants filed should be filed. Minnesota in particular wants the name of the corporation, address, the aggregate number of shares, and the name and address of each incorporator. (2011 Minnesota State Statutes,

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