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Resolution N - Remove certain restrictions in Stock Corporation (Discretionary)
Description: Remove certain restrictions in Stock Corporation
Rationale: There are several restrictions associated with a StockCorporation that are descriptive but may not be necessary. We want to reevaluate these restrictions. Our recommendation is to remove the below listed restrictions for this release. A subsequent release will refocus on ownership and control relations and may recommend new restrictions at that time.
Resolution:
A. In module CorporateControl
- for class StockCorporation:
- remove restriction hasControllingInterestParty min 0 VotingShareholder
- remove restriction hasMajorityControllingInterestParty min 0 OverFiftyPercentControllingInterestCompany
- remove restriction hasSignificantControllingInterestParty min 0 SignificantShareholdingCompany
- remove restriction isWhollyOwnedBy min 0 TotalControllingInterestCompany
Resolution O - Replace Natural Person with LegallyCapablePerson (Mandatory)
Also, implement Row 2 from the Actions
Resolution Q - Realign hasObjective to hasGoal for BusinessEntities (Highly Discretionary)
Resolution S - Introduce Jurisdictional Plugins to Define Unique Jurisdictions for Specific Legal Forms in US and UK (Mandatory) David
Resolution T - Introduce Business Entity to Group Legal Forms that are Companies
Note: Business Entity has been added but no additional grouping has been done as of 3/8/2018