Shaping Delaware Law
Authors of Delaware General Corporation Law
Delaware’s path-making 1899 incorporation law, which the state’s General Assembly and judiciary honed over the years to fit changing conditions, became a virtual proxy for a national statute. In 1967 partner S. Samuel Arsht chaired a committee that carefully updated the entire Corporation Code, thereby helping to sustain Delaware’s historic prominence in the field of corporate law and jurisprudence. Today, several of the firm’s partners continue to play key roles in the drafting and updating of the Delaware General Corporation Law.
Drafters of Delaware’s Financial Center Development Act
Morris Nichols attorneys drafted the Financial Center Development Act of 1981 and steered it successfully through the Delaware General Assembly. The Act opened doors for national banks and credit card companies to start operations in Delaware, which transformed the state’s economy. Over the next fourteen years the partners of Morris Nichols drafted twelve additional major pieces of legislation affecting the banking, credit card and securities industries in Delaware.