Richards Layton & Finger
 

2008 Amendments to the General Corporation Law of the State of Delaware

August 2008

Legislation amending the General Corporation Law of the State of Delaware (the DGCL) has been adopted by the Delaware General Assembly and was signed by the Governor of the State of Delaware on June 26, 2008. The DGCL amendments became effective upon signing by the Governor. The DGCL amendments are designed to keep Delaware law current and address issues raised by practitioners, the judiciary and legislators with respect to the current language or interpretation of the DGCL. The 2008 amendments to the DGCL are discussed below. Also discussed below is a new policy, effective January 1, 2008, adopted by the Secretary of State of the State of Delaware in connection with the effectiveness of the 2006 amendments to Chapter 5 of Title 8 of the Delaware Code relating to franchise taxes and annual franchise tax reports.