2015 Amendments to the General Corporation Law of the State of Delaware, by Richards Layton & Finger

http://www.rlf.com/Publications/6017

Please note the links at the bottom of their post, which will take you to other earlier amendments. -CCE

Legislation proposing to amend the General Corporation Law of the State of Delaware (the ‘DGCL’) has been approved by the Corporation Law Section of the Delaware State Bar Association and is expected to be introduced to the Delaware General Assembly. If the amendments become effective, they would result in several significant changes to the DGCL.

If enacted, the amendments (other than the amendments to Section 204 (ratification of defective corporate acts and stock), Section 205 (proceedings regarding validity of defective corporate acts and stock), Section 262 (appraisal rights), and Section 363(b) (appraisal rights of stockholders of a corporation that is not a public benefit corporation in connection with certain amendments to the certificate of incorporation to become a public benefit corporation or certain mergers or consolidations involving a public benefit corporation)) would become effective on August 1, 2015. The amendments to Sections 204 and 205 would become effective with respect to resolutions adopted by the board ratifying defective corporate acts or stock on or after August 1, 2015. The amendments to Section 262 would become effective with respect to agreements of merger or consolidation entered into on or after August 1, 2015. The amendments to Section 363(b) would become effective with respect to agreements of merger or consolidation entered into on or after August 1, 2015 and with respect to amendments to the certificate of incorporation approved by the board of directors on or after August 1, 2015. . . .

Continue reading →