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The Model Act has been drafted and revised by the Corporate Laws Committee (the ?Committee?) of the Business Law Section of the American Bar Association.
The MBCA had been adopted by 36 states and other jurisdictions. The MBCA provides a modern body of statutory corporate law that is regularly updated by the Committee based on judicial decisions, recent legislative enactments and other legal and technological developments.
The MBCA offers an opportunity for states to bring about uniformity in the corporate laws so that it becomes easier for corporations to operate in multiple states. In addition to legal uniformity, it promotes the use of identical terminology in different state laws, making it easier to interpret.
The USA Model Business Corporation Act is the official legislation of the rules and regulations of a limited liability company incorporated in the USA.
The MBCA has been adopted in the following 36 jurisdictions: Alabama (2016 Revision), Alaska (1969 version), Arizona, Arkansas, Colorado, Connecticut, District of Columbia, Florida (2016 Revision), Georgia, Guam, Hawaii, Idaho, (2016 Revision), Indiana; Iowa (2016 Revision); Kentucky, Louisiana, Maine, Massachusetts, ...