In 2001, several members of the Business Law Section of the Maine Bar Association convened the Corporate Law Revision Committee (the Committee), which set out to adapt the Model Business Corporation Act (the Model Act) for use in Maine. Maine\u27s corporation law had not benefited from a comprehensive over-haul since 1971, and notwithstanding periodic updates of specific components of the statutory regime over the years, a thorough and comprehensive revision was needed to keep pace with modern corporate law and practice in the twenty-first century. The Committee\u27s efforts, under the leadership of James B. Zimpritch, Esq., widely acknowledged as the “Dean” of Maine\u27s corporate bar, resulted in a new Maine Business Corporation Act, codified in Title 13-C of the Maine Revised Statutes (the New Act), taking effect on July 1, 2003 and replacing Title 13-A of the Maine Revised Statutes (the Prior Act). While operating under the Prior Act, practitioners, judges and scholars in the State of Maine had come to rely heavily on the first edition of Zimpritch\u27s Maine Corporation Law & Practice (Zimpritch, 1st. ed.) as the primary authority on the Prior Act. Zimpritch, 1st ed. served both as a practical user\u27s guide for the occasional corporate law practitioner and as a source of thorough and scholarly discussion of the finer points of Maine\u27s corporate law for those practitioners and academics who considered corporate law their familiar waters, but who nevertheless appreciated a reliable navigational aid when the fog descended or when exploring an unfamiliar cove in an otherwise familiar bay
