Business Associations

Because the law governing business associations is in large part codified and subject to administrative regulation, this article will emphasize new legislation and changes in policies of agencies charged with the enforcement of that law. The most sweeping changes were accomplished by regulations issued by the commissioner of corporations, but there were also several noteworthy amendments and additions to statutes affecting corporations. Additionally, major changes to the Corporate Securities Law are now before the legislature and passage of a bill is expected during 1968. Neither space nor time permits a definitive analysis of the multitude of recent cases involving aspects of the law relating to business associations. Where a case has caused some change in the prior law, however, an attempt has been made to signal that change and to provide some appraisal of the rules of law it promulgates