Corporate Law Developments February 3, 2017

This week's corporate law news roundup includes discussions of the American Bar Association's release of its first complete revision to the Model Business Corporation Act since 1984; the continued adoption (or consideration) by U.S. states of legislation allowing the incorporation of benefit corporations (for-profit corporations that voluntarily meet higher standards of corporate purpose, accountability and transparency by enabling directors to consider the interests of workers, society and the environment as well as those of stockholders), with 31 U.S. states now having benefit corporation legislation and another 8 states considering such legislation; and the unlikelihood that the proposed U.S. Consumer Financial Protection Bureau (CFPB) rules prohibiting mandatory arbitration clauses in consumer contracts will be finalized in the near or medium term now that the anti-consumer regulation Trump administration has come into office.