Please explain how MCBA trumps Delaware General Corp Law? Based on the below information, it would seem that PTSC's bylaws regarding annual meetings have nothing to do with MCBA. As usual, corrections welcome
Delaware General Corporation Law: Main Competitor to the Model Business Corporation Act
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While more than half of the states use some version of the Model Business Corporation Act, many states also use some form of the Delaware General Corporation Law. In essence, the Delaware General Corporation Law could be seen as the major "competitor" to the MBCA. The two different sets of corporate laws differ significantly on matters of what proof is necessary to prove various aspects of corporate law and the rules governing such issues as voting trusts and agreements.
While the two versions of the law may differ at this time, because the MBCA is a model code and is designed to follow trends and create uniformity among the states, should versions of the Delaware General Corporation Law become widely accepted principles of law, the drafters of the MBCA could take that into consideration and revise the code to incorporate these changes. Since the law is always changing, it is not unlikely that at some point there will be only one law governing corporations in the United States.
Read more:
Model Business Corporations Act | eHow.com http://www.ehow.com/about_5285815_model-business-corporations-act.html#ixzz1bLNEe6oD
