MS SB2350

Eliminates the maximum 10-year period on voting trust agreements and allows the parties to set the duration in the trust agreement itself.

Removes the 10-year limitation on extensions of voting trust agreements and permits extensions for periods specified in the extension agreement.

Allows administratively dissolved corporations to continue their corporate existence for purposes of winding up and liquidating their business and affairs, and notifying claimants.

Effective date: July 1, 2017.