The Close Corporation-Comparing The Separate Statutory Treatments of Florida, Delaware and Maryland with Virginia\u27s Version of The Model Act

In a trend beginning before the turn of the nineteenth century and accelerating during the period after the Second World War, state corporation laws have evolved into enabling acts recognizing and catering to modem business practices The restrictions retained in these acts remain both to protect the public and balance the relationships between interested parties within the corporation. Despite these remaining restrictions, the philosophy of the modem acts is to create a climate favorable for corporate activity