Lobbying Affiliate: MML&K Government Solutions
{ Banner Image }

Corporate Law Blog

Keeping Business "Open for Business."

Contact Us

* Indicates a required field.

McBrayer Blogs

Kentucky Slashes Statutory Interest Rates

In March of 2017, Kentucky moved to slash statutory interest rates. HB 223, sponsored by Rep. Joe Fischer and signed by Gov. Bevin on March 16th, cuts interest rates on civil judgments by half in some instances. This new law may have a significant impact on lenders and judgment creditors, as the higher rates provided an incentive for judgment debtors to move quickly to pay off the civil judgment. More >

The Case for Diversity in a Law Firm Setting

Posted In Corporate, Diversity

As lawyers and legal professionals, we work in one of the least diverse professions in the country. At McBrayer, we are committed to doing our part to help improve diversity and inclusion in the profession. Lawyers can be slow to change, much like the law itself, but several recent initiatives give us hope.  More >

The Fiduciary Rule is Here: Lenders, Get Ready!

Lenders, it’s time to embrace a new definition of “fiduciary.” In 2016, the U.S. Department of Labor (“DOL”) released the final Fiduciary Rule to expand the definition of “fiduciary” for purposes of the Employee Retirement Income Security Act (“ERISA”) and the Internal Revenue Code. The rule was delayed by the Trump administration, and following review of nearly 200,000 comments, the DOL designated June 9, 2017, as the official start date of the new rule for the financial services industry. Lenders everywhere must be ready to comply. More >

Rule 30(b)(6) in Depositions and at Trial

Posted In Litigation

One of the big “if only” moments in corporate litigation concerns testimony: if only a corporation as a corporation could face deposition. Despite the legal fiction that corporations have an identity, it remains impossible, absent some serious and frightening advances in future technology, for a corporation to testify on its own behalf. To get around this dilemma, the Federal Rules of Civil Procedure include Rule 30(b)(6) (“30(b)(6)”). This rule allows a party to name an entity such as a corporation, an association or a governmental agency as a deponent, and that entity will then designate a representative to be deposed on behalf of the company. (Kentucky’s Civil Rule of Procedure 30.02(6) substantially tracks the federal rule, so this information applies to both Kentucky and federal courts.) The rub is that 30(b)(6) deponents face a different set of standards for testimony than regular deponents, and that difference could create havoc for a client, up to and including sanctions. More >

Five Ways Municipalities Invite Exposure to Liability

Municipalities can be complicated and complex entities serving hundreds to thousands of individuals and businesses, while  employing numerous people themselves. Cities, not unlike any small or big business, face similar challenges (and liabilities) as  any private corporation, only with the added mandate of providing services and protection for all of those who work or live within their boundaries.  It is impossible, of course, to eliminate all liability facing municipalities in today’s public sector legal environment. Still, liability can be avoided to a large degree with planning and consideration. With that in mind, below are five ways municipalities invite exposure to liability, but more importantly, insight on how to prevent it. More >

Charge-offs on Consumer Debts: The Kentucky Supreme Court Causes Shaky Ground to Collect Prejudgment Interest

The Kentucky Supreme Court is shaking things up for banks that collect on charged-off debts. The decision in Unifund CCR Partners v. Carol Harrell, 509 S.W.3d 25  (Ky. 2017), is an eye-opener for lenders regarding their strategies to recover a contractual or statutory right to collect interest on prejudgment debt. More >

Laws Every Small Business Owner Needs to Know

Small businesses have a tremendous impact on the U.S. economy, providing 55% of all jobs and 54% of all U.S. sales, according to the Small Business Administration. With such an impact, it’s easy to think that these businesses are subject to less regulation and legal hurdles. Instead, the reality is that small businesses are subject to the same complex tangle of regulation that other businesses face for the most part, but they are often less-equipped to negotiate it. With that in mind, here are four types of laws that small business owners must consider during operation of their businesses. More >

Five Reasons to Consult an Attorney for Your Small Business

Couple with Open Sign

Starting a small business can be difficult. It requires a tremendous amount of passion and dedication, as well as some assistance from professionals such as accountants, insurance agents and others. While you may not need an attorney in the same measure, consulting one at the outset of the business and periodically throughout can get you off to a good start and keep you from falling into common legal traps. Here are five reasons you should consult with an attorney that will greatly benefit your small business. More >

Supreme Court Upholds Strict Diversity of Citizenship of Non-Corporate Entities for Diversity Jurisdiction

In a unanimous decision on March 7, 2016, the United States Supreme Court affirmed its longstanding principle that unincorporated entities cannot claim diversity jurisdiction for federal court purposes. This case highlights the striking differences between corporations and other entities, and provides a roadmap for how major unincorporated entities are viewed by the federal court system. More >

Congress Moves to Expand Definition of “Accredited Investor” Under Regulation D

In an era where Congress and the Securities and Exchange Commission (“SEC”) have been working to break down barriers to investment and equity development, it only makes sense a new bill currently wending its way through the legislative process would expand the definition of an “accredited investor.” H.R. 2187, The Fair Investment Opportunities for Professional Experts Act (“the Act”), passed the United States House of Representatives by a vote of 347 to 8 in February and now resides in the Senate. This effort would widen the pool of investors for private placements under Section 501(a) of Regulation D[1] by including those with experience and education in addition to those with a requisite net worth or salary.


[1] 17 C.F.R. § 230.500 et seq. More >

Lexington, KYLouisville, KYFrankfort, KY: MML&KFrankfort, KY LawGreenup, KYWashington, D.C.