12/08/2011 01:30 a.m. - 01:30 p.m.
Waterfront Restaurant Main Dining Room (2nd Floor) Pier 7, The Embarcadero San Francisco, CA 94111
Susan H. Mac Cormac
Why is corporate form important from a social and environmental perspective? Join us for a lively discussion of the limitations of traditional corporate forms, and learn about a new development that promises to change corporate governance, accountability, and reporting.
California S.B. 201, which was signed into law on October 9, created the Flexible Purpose Corporation (FPC). The FPC is a new corporate form that has an additional "safe harbor" that requires boards and management to consider a special purpose, such as environmental and social factors, in addition to shareholder value in both the ordinary course of business and change of control situations while protecting them from shareholder liability in connection with those actions. This new form and others like it represent an exciting shift in corporate law which promises to have a major impact on how businesses operate now and in the future.
MCLE Credit: 1 Hour General California MCLE
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