Steven M. Haas, chair of the Corporate Laws Committee and a partner at Hunton Andrews Kurth LLP, highlighted the significance of the new resource center. “The Corporate Laws Committee of the ABA works hard to develop and maintain a modern, state-of-the-art corporate statute,” Haas stated. “The resource center is a valuable site for state bar committees, legislators, academics, and others working on state corporate statutes.”

The Resource Center is not just a repository for the text of the MBCA. It also features a variety of other materials, including a map displaying jurisdictions that have enacted the MBCA, an “Enactment Toolkit” to aid jurisdictions in adopting or updating their version of the MBCA or other statutory corporate laws, and historical and educational resources that provide a deeper understanding of the act.

Additional resources available on the site include a curated bibliography of law review articles discussing the MBCA since its inception nearly 75 years ago and various white papers produced by the committee. These documents aim to foster a greater understanding of the MBCA and encourage its consistent application across different jurisdictions.

According to the ABA, the MBCA covers critical areas such as the formation, governance, conduct and liability of directors, making it an indispensable tool for those engaged in establishing and managing business (stock) corporations. Furthermore, the ABA emphasized that the MBCA is particularly valuable in jurisdictions lacking a fully developed body of common law or the resources to stay current with emerging corporate law trends and developments due to its straightforward and prescriptive approach to statutory corporate law.