Jeffrey Wolters, James Honaker Author Analysis of 2009 Amendments to the Delaware General Corporation Law

October 2009

Wilmington, DE – October 2, 2008 – Morris Nichols Corporate Law Counseling Group partner and practice group coordinator Jeffrey Wolters and associate James Honaker authored Analysis of 2009 Amendments to the Delaware General Corporation Law that is featured in the current Volume of Corporation Service.

The analysis covers the new amendments to the Delaware General Corporation Law (DGCL) adopted by the Delaware General Assembly that took effect August 1, 2009 including those that:

• enable Delaware corporations to adopt and tailor “proxy access” procedures for contested elections of directors;
• introduce new provisions that specify a default rule for when the indemnification and advancement rights of a corporate director, office, employee or agent “vest” under a certificate of incorporation or bylaw provision;
• empower the Delaware Court of Chancery to remove directors under limited circumstances;
• enable a board of directors to fix two separate record dates for a given stockholder meeting affecting notice and voting rights; and,
• increase certain filing fees and franchise taxes.

Produced by the Aspen Publishers Editorial Staff, Corporation Service provides regularly updated coverage of business corporation laws, limited liability company acts, annotations of important cases, and expert analysis of key issues affecting corporate practice.
 
Click here to download Analysis of 2009 Amendments to the Delaware General Corporation Law (PDF 102 KB)

_{Reproduced with permission from Corporation Service Report Bulletin (8/17/2009).  Copyright 2009 by Aspen Publishers, Inc., a subsidiary of Wolters Kluwer, Law & Business Division. www.aspenpublishers.com}