The American Law Institute (ALI) approved a new project last month – Restatement of the Law, Corporate Governance. Over 25 years ago, the ALI approved and published the Principles of Law, Corporate Governance and this new project will examine the evolution of corporate governance over the last 25 years and reflect the current state of the law. New York University Law School Professor Edward Rock will serve as the Reporter for the Restatement, assisted by a number of associate reporters and advisors with diverse experiences. The project is likely to take several years to complete.
Jim Cheek, a member of Bass, Berry & Sims and of the Board of Trustees of the American College of Governance Counsel, is also a member of the ALI and will be following the project closely.