As Chair of the State Bar of Nevada's Business Law Section, Ballard Spahr partner Robert C. Kim is working to ensure that state laws are clear enough for businesses to understand and that they have the flexibility to keep pace with changes in the economy. Mr. Kim is overseeing the bar’s recommendations to state legislators on how to revise the Nevada Revised Statutes accordingly

Mr. Kim cited a recent change in writing stemming from the bar’s efforts that gives company directors and shareholders more flexibility in negotiating takeovers. "Back in the 1980s and 1990s, anti-takeover laws in Nevada were in vogue and made more sense," stated Mr. Kim. "But they became more draconian in their impact, so we decided to shorten some time frames. Given the pace of business these days, the cooling-off periods that were in place were no longer appropriate.

Mr. Kim also said: "Our corporate laws are not designed for people to cheat and steal. Our laws are pretty clear in that they provide the same protections that other states do. Maybe the fact that we don't require state tax filings eliminates one level of information that other states collect by virtue of their tax systems. But we don't need that information."


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Business and Finance