We recently posted an article discussing Senate Bill 417, which revised Indiana’s statute on noncompete agreements between physicians and their employers, Indiana Code 25-22.5-5.5. A physician in northern Indiana may be the first to attempt to use the statute. The case is Lankford v. Lutheran Medical Group, filed in Allen…
The answer to that question is remarkably simple but surprising to many: No one owns a nonprofit corporation. To understand why that is so, let’s compare nonprofit corporations to for-profit or business corporations. Business Corporations Imagine you buy 100 shares of common stock in a corporation on the New York…
A few months ago, we wrote an article about a bill in the Indiana General Assembly, Senate Bill 7, that would essentially ban noncompete agreements[1] between medical doctors and their employers. The General Assembly enacted the bill and Governor Holcomb signed it, but only after considerable revision. The ban was…
Generally, an Indiana limited liability company that has no members is dissolved. Ind. Code § 23-18-9-1.1(c). (For an interesting case from Alabama involving the dissolution of an LLC for lack of members, see our Indiana Law Blog article, Family Businesses: Succession Planning for LLCs.) Although that provision is in the…
The Chicago Picasso in Daley Plaza, copyright 2023 Harshman Ponist Smith & Rayl Lawyers and others often say that “may” is permissive and “shall” is mandatory. By that, they mean that when a statute says a person “may” do something, that person has the discretion to do it or not,…
Update: Senate Bill 7 dealing with physician noncompete agreements was signed into law by the governor but in a form that differs significantly from the originally introduced version described in this article. Click here for a discussion of the final version of Senate Bill 7 that goes into effect on…
From a legal perspective, auctions are interesting transactions. Offer and acceptance in most sales Let’s start by discussing an ordinary contract for the sale of goods, one not created at auction. Law students learn in their first year that the formation of a contract requires, among other things, offer…
The limited liability company is a relatively new form of business entity, with most state statutes adopted in the 1990s. In just a few years, they overtook the corporation as the most common structure for new businesses. A reason for the LLC’s popularity is that the it combines some of…
As we discussed in a recent post, the Families First Coronavirus Response Act (“FFCRA”) requires small businesses to paid employees for time away from work for various reasons related to the coronavirus epidemic. The FFRCA provides two types of benefits. Employers must pay an employee at his or her regular…
[For an update based on agency guidance please see Small Businesses Receive Help with Coronavirus Paid Leave.] On March 18, Congress passed, and the President signed on the same day, the Families First Coronavirus Response Act (FFCRA) that, among other things, requires employers to give employees paid time off for…