Nearly a dozen years ago, I wrote a lengthy post on the meanings of "shall" and "will". In that post, I noted that "shall" is sometimes used, particularly in Bylaws, to mean "may". I did not consider whether "may" could mean "does".
Judge Orders Attorneys Who Failed To Discern The Difference Between "May Not" And "Does Not" To Attend School
Posted on August 09, 2023
SEC Adopts Meaningless And Ambiguous "Reasonably Likely" Standard In New Cybersecurity Incident Disclosure Rules
Posted on July 27, 2023
The Securities and Exchange Commission yesterday adopted new rules requiring registrants to disclose on Form 8-K any cybersecurity incident which they determine to be material. The new Item 1.05 of Form 8-K requires description of the material...
Staff Addresses Family Trusts With Multistate Trustees
Posted on September 26, 2017
When the Securities and Exchange Commission two years ago proposed amendments to Rule 147 and adoption of Rule 147A, I commented on an issue that I foresaw with respect to family and other non-business trusts: