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| | FindLaw for Legal Professionals - Case Law, Federal and State Resources, Forms, and Code (Site not responding. Last check: 2007-11-01) |
 | | The league is owned by a number of independent investors (a mix of corporations, partnerships, and one individual) and is governed by a management committee known as the board of governors. |
 | | Thus, while the investors qua investors share equally in the league's profits and losses, the individual team operators qua operators fare differently depending at least in part on the financial performance of their respective teams. |
 | | Investors may transfer their ownership stakes and operating rights to other current investors without obtaining prior consent; transfers to outside investors, however, require a two-thirds majority vote of the board. |
| caselaw.lp.findlaw.com /cgi-bin/getcase.pl?court=1st&navby=case&no=011296 (9633 words) |
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