Cornell Law Review Volume 47 Article 1 Issue 2 Winter 1962 New York Business Corporation Law of 1961 Robert S. Stevens Follow this and additional works at: http://scholarship.law.cornell.edu/clr Part of the Law Commons Recommended Citation Robert S. Stevens, New York Business Corporation Law of 1961, 47 Cornell L. Rev. 141 (1962) Available at: http://scholarship.law.cornell.edu/clr/vol47/iss2/1 This Article is brought to you for free and open access by the Journals at Scholarship@Cornell Law: A Digital Repository. It has been accepted for inclusion in Cornell Law Review by an authorized administrator of Scholarship@Cornell Law: A Digital Repository. For more information, please contact
[email protected]. CORNELL LAW QUARTERLY VoLUms 47 WINTER, 1962 NUMBER 2 NEW YORK BUSINESS CORPORATION LAW OF 1961 Robert S. Stevenst The Business Corporation Law passed by the Legislature at the 1961 session and approved by the Governor is the first major revision of New York law relating to business corporations in over thirty years. It con- solidates into one law, simplifies, and modernizes most of the provisions in the General Corporation Law and the Stock Corporation Law affect- ing business corporations, omits some of these, and adds some new ones. In the first report of the Joint Legislative Committee to Study Revision of Corporation Laws, in 1957, it was stated that the Committee's objec- tive was to prepare a Business Corporation Law which will represent the proper balance of the interests of shareholders, management, employees, and the overriding public interest. During the four years of study this has been the constant objective of the Committee.