The Corporation Law Section of the Delaware State Bar Association has approved, in substantially the form proposed by the Delaware Corporate Council, amendments to the General Corporation Law of the State of Delaware (DGCL) that would prohibit so-called “fee-shifting” provisions in charters and bylaws, expressly permit “exclusive forum provisions” in a corporation’s charter and bylaws, and make certain changes with respect to appraisal rights. The fee-shifting and exclusive forum proposals of the Delaware Corporate Council were discussed in the March 20 edition of Corporate and Financial Weekly Digest.
Continue Reading Update: Proposed Amendments to DGCL, Including Ban on Fee-Shifting and Permitting Exclusive Forum Provisions