2017 Amendments to Delaware’s General Corporation Law and Alternative Entity Statutes
In its last session, the Delaware Legislature passed a number of amendments to the Delaware General Corporation Law (the"DGCL") and the Delaware "alternative entity’’ statutes - the Delaware Limited Liability Company Act (the "DLLCA"), the Delaware Revised Uniform Limited Partnership Act ("DRULPA") and the Delaware Revised Uniform Partnership Act ("DRUPA"). All of the amendments were effective as of Aug. 1, 2017.
The amendments to the DGCL effected a number of substantive, technical and clarifying changes, including changes to permit the use of "blockchain" or "distributed ledger" technology for the maintenance of corporate records and changes to the provisions governing stockholder action by written consent.
The amendments to the alternative entity statutes include a number of "clean up" changes as well as certain substantive improvements relating to, inter alia, delegation, formation requirements and limited partner safe harbors.
Click here to read the full article which discusses the amendments.
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Melissa A. DiVincenzo, Louis G. Hering, “2017 Amendments to Delaware’s General Corporation Law and Alternative Entity Statutes,” Corporate Accountability Report, Bloomberg BNA, 158 Care, (August 17, 2017)