Amendments to the DGCL Remove Obstacles to Adoption of Public Benefit Status
On April 2, 2015, the Corporation Law Council of the Delaware State Bar Association announced proposed amendments to the Delaware General Corporation Law which, if approved by the Executive Committee of the DSBA, will be proposed to the state legislature in the current session. Those amendments include important changes to Subchapter XV of Title 8, which governs public benefit corporations (‘‘PBCs’’). Subchapter XV was initially adopted in 2013. Since that adoption, 265 Delaware corporations have chosen to become PBCs.
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Frederick H. Alexander, “Amendments to the DGCL Remove Obstacles to Adoption of Public Benefit Status,” Bloomberg BNA Corporate Law & Accountability Report (April 17, 2015)