Corporate distributions
- Author/Creator:
- Bradford, C. Steven, 1956-
- Publication/Creation:
- Minneapolis, MN : Center for Computer-Assisted Legal Instruction
- Resource Type:
- Computer File
More Details
Additional/Related Title Information
- Full Title:
- Corporate distributions / by C. Steven Bradford
- Series Titles:
- CALI lessons.
- Variant Titles:
- CALI lesson identifier: CORP12.
Related Names
- Additional Author/Creators:
- Center for Computer-Assisted Legal Instruction
Subjects/Genre
- Subjects:
- Dividends--Taxation--Law and legislation--United States--Interactive multimedia--Problems, exercises, etc
Corporations--Taxation--Law and legislation--United States--Interactive multimedia--Problems, exercises, etc
Description/Summary
- Summary:
- "This lesson focuses on state corporation law restrictions on distributions to shareholders. It does not cover restrictions on distributions arising from other sources, such as contractual restrictions, the law of fraudulent conveyance, or federal bankruptcy law.
The lesson begins with a brief look at the required procedure to approve corporate distributions, then turns to the types of distributions covered by the legal restrictions, focusing primarily on the definition of "distribution" in the revised Model Business Corporation Act. The majority of the lesson deals with the various cash flow and balance sheet tests used to restrict distributions. The focus is on the revised MBCA and Delaware law, but earned surplus restrictions are also discussed. A separate section of the lesson discusses complications: revaluation of assets and liabilities, restating the corporate capital accounts, the effect of preferential rights, and timing issues that arise primarily when debt is distributed. The lesson also discusses the possible liability of directors for authorizing, and shareholders for accepting, unlawful distributions.
No prior knowledge of accounting is necessary for this lesson. The lesson includes a brief, minimalist introduction to the necessary accounting concepts; that material may be bypassed by students with sufficient knowledge of accounting concepts."-- CALI lessons subject list - Publication Dates:
- Began in 1999.
- Language:
- English
- Technical Note:
- Mode of access: World Wide Web.
- Restrictions on Access:
- CALI password required for access.
- General Note:
- Description based on 2001 version.
"Approximate completion time: 1 hour and 20 minutes" - Additional Physical Form:
- Also issued as part of an annual compilation of lessons on DVD-Roms since the academic year 2008-2009. When different, the online version is more current.
Additional Identifiers
- Catalog ID (MMSID):
- 9936509803102486
- OCLC Number:
- 86109390
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