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Full-Text Articles in Legislation
Statutory Obsolescence And The Judicial Process: The Revisionist Role Of The Courts In Federal Banking Regulation, Donald C. Langevoort
Statutory Obsolescence And The Judicial Process: The Revisionist Role Of The Courts In Federal Banking Regulation, Donald C. Langevoort
Michigan Law Review
What do - or should - courts do when asked to interpret an apparently "obsolete" statute? This question is an important one half a century or more after the enactment of much of the fundamental federal legislation in such fields of economic regulation as labor, communications, antitrust, securities, and - the subject of this study banking. For a variety of reasons, including political inertia and special interest pressure, many of these statutes remain substantially unchanged even though the assumptions about marketplace structure and conditions that formed the basis for the legislation have long since ceased to hold true.
Virginia's 'Affiliated Transactions' Statute: Indulging Form Over Substance In Second Generation Takeover Legislation, Stanley K. Joynes Iii, Steven J. Keeler
Virginia's 'Affiliated Transactions' Statute: Indulging Form Over Substance In Second Generation Takeover Legislation, Stanley K. Joynes Iii, Steven J. Keeler
University of Richmond Law Review
Virginia's recently enacted antitakeover statute, the "Affiliated Transactions" provision of the Virginia Stock Corporation Act, raises serious constitutional and economic questions. Although the form of the statute appears to regulate the internal affairs of Virginia corporations, the substance and practical impact of the statute render it violative of both the commerce and supremacy clauses. Constitutional analysis of state antitakeover legislation necessitates consideration of the economic desirability of an unrestricted market for corporate control. The United States Supreme Court's most recent statement on the subject, in CTS Corp. v. Dynamics Corp. of America, decided on April 21, 1987, reflects a noteworthy …