The Act consists primarily of technical revisions to existing law, but includes several changes which are of general interest. The amended statute now allows a written facsimile or other copy of a proxy in place of the original, gives chief executive officers (CEOs) the authority to take all actions not requiring board approval and clarifies voting rules for mergers. In addition, the Act changes the provisions relating to publication of notices of intent to file articles of incorporation, clarifies preemptive rights issues, and deletes from the savings provision the section regarding claims against a corporation in dissolution.
Sullivan, Pamela G.
"CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS Business Corporations: Modify or Add Certain Definitions and Procedures Relating to Corporations,"
Georgia State University Law Review: Vol. 10
, Article 23.
Available at: http://readingroom.law.gsu.edu/gsulr/vol10/iss1/23