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Full-Text Articles in Law
Debate: The Contraception Mandate And Religious Freedom, Steven D. Smith, Caroline Mala Corbin
Debate: The Contraception Mandate And Religious Freedom, Steven D. Smith, Caroline Mala Corbin
Articles
No abstract provided.
L3cs: An Innovative Choice For Urban Entrepreneurs And Urban Revitalization, Dana Thompson
L3cs: An Innovative Choice For Urban Entrepreneurs And Urban Revitalization, Dana Thompson
Articles
Social enterprises offer fresh ways of addressing seemingly intractable social problems, such as high levels of unemployment and poverty in economically distressed urban areas in the United States. Indeed, although social enterprises have deep and longstanding roots, the recent iteration of the social enterprise movement is gaining momentum in the United States and globally. Though there is not a singularly accepted legal definition of social enterprises, they are popularly known as businesses that use forprofit business practices, principles, and discipline to accomplish socially beneficial goals. Social entrepreneurs, those who operate social enterprises, eschew a traditional notion of charity, which primarily …
Agents Without Principals: Regulating The Duty Of Loyalty For Non Profit Corporations Through The Intermediate Sanctions Tax Regulations, Kevin Outterson
Agents Without Principals: Regulating The Duty Of Loyalty For Non Profit Corporations Through The Intermediate Sanctions Tax Regulations, Kevin Outterson
Faculty Scholarship
Delaware corporate law imposes a duty of loyalty on officers and directors as a mechanism to regulate and deter self-dealing transactions. In nonprofit corporations, however, there are generally no shareholders with direct financial incentives to monitor against self-dealing. In the absence of shareholders and other principals, Congress and the IRS have articulated duty of loyalty rules for nonprofits that reach far beyond those applied to the for-profit world--most prominently the § 4958 intermediate sanctions. This article identifies the persons who owe a duty of loyalty to a nonprofit corporation, the applicable fiduciary standards for violating the duty of loyalty, and …