- April 2020
The Small Business Reorganization Act of 2019 is a new streamlined bankruptcy process for businesses that qualify as a small business and took effect on February 22, 2020. The act is commonly known as “Subchapter V”.
- MVA COVID-19 Resources Center, April 2020
The Small Business Reorganization Act of 2019 is a new streamlined bankruptcy process for businesses that qualify as a small business and took effect on February 22, 2020. The act is commonly known as “Subchapter V”.
- Bloomberg Law, June 2013
Recognizing the role of small business in economic growth, certain U.S. states are speeding access to capital for local companies by authorizing equity-based crowdfunding. While most states await implementation of the federal Jumpstart Our Business Startups Act (the “JOBS Act”) (P.L. 112-106) enacted April 5, 2012, or actively caution investors against equity-based crowdfunding, 1See, e.g., Press Release, Tex. State Sec. Bd., Securities Commissioner Warns Entrepreneurs About Potential Hazards of Rushing Into Crowdfunding (June 27, 2012), available at http://www.ssb.state.tx.us/News/Press_Release/06-27-12_press.php. two states have instead embraced this new form of fundraising and two additional states are currently considering authorizing legislation. Leading this movement, Georgia and Kansas in 2012 adopted new securities exemptions which permit Georgia-based and Kansas-based companies, respectively, to advertise to the public their need for investment and to raise money from state citizens.