Chapter 6 Notes continued Business Law

Chapter 6 Notes continued Business Law - For the class of...

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For the class of 02/11/14 Chapter 6 notes continued: Enabling statues create agencies and outline their powers/responsibilities Sunshine Act and FOI At: open records, open meetings Legislative Power of Agencies: o APA: proposed regulations-rulemaking APA (all agencies have to follow; are mostly general) o APA must give the opportunity for the regulated party to have a say o Agencies have some digression to do stuff, but it is crucial for them to show what they did and why APA procedure requires: o Posting rule o Opportunity for comment by public and stockholders o Explanation of rule when adopted Three Bases to Challenge: o Constitution o Legislative o Administrative procedures Exhaustion: going through the process Professor O'Brien's notes: APA - Administrative Procedure Act sets out procedures and policies that all federal agencies must follow, generic statute on process…how federal agencies are required by federal law to act. Agencies have powers to investigate, adjudicate, rulemaking ( APA process of notice, hearing, call for comment …agency may amend rules or not adopt or adopt as is after the notice and hearing).
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