What is the BCA?
BCA stands for Business Corporation Act. It refers to a group of laws governing corporations, specific to each state. The Business Corporation Act defines the basic but fundamental rules for corporation formation and operation, such as preparation of the articles of incorporation and filling them with the state in order to incorporate, judicial rights and responsibilities of corporate office holders (officers, directors etc.), by laws management etc.
The BCA also defines the rules regarding shareholders meetings and directors election.
The corporate statutes of many states contain similar rules for corporations (the Model Business Corporation Act), therefore many BCAs across the nation contain common law terms. Anyway, a Business Corporation Act is a flexible judicial set of documents, so it is the subject of frequent updates.
See Also: "Blue Sky Law
