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SBA is also proposing to amend the affiliation test on negative control (at 13 C.F.R. 121.103(a)(3)) and to add the same language to the regulations governing the 8(a) BD Program (at 13 C.F.R. 124.106(h)) and WOSB Program (13 C.F.R. 127.202(h)): SBA will not find that a minority shareholder has negative control where such minority shareholder has the authority to block action by the board of directors or shareholders regarding the following extraordinary circumstances:(i) Adding a new equity… [read post]
27 Aug 2024, 9:00 pm by Meredith Ervine
Here’s something John shared in early August on DealLawyers.com: Last week, I blogged about Vice Chancellor Laster’s opinion in Seavitt v. [read post]