DELAWARE

House Bill 341 (Chapter 256) signed by the governor and effective July 16 amends the General Corporation Law to, among other things, confirm that a board of directors may exercise certain powers during emergency conditions; eliminate supermajority voting requirements and appraisal rights with converting to or merging with a public benefit corporation; define categories of officers entitled to mandatory indemnification against expenses; and restrict elimination of an exculpation clause in a charter from affecting exculpation of directors with respect to prior acts or omissions.

House Bill 342 (Chapter 257) signed by the governor and effective July 16 amends the Revised Uniform Partnership Act to, among other things, confirm that statutory appraisal rights are unavailable unless expressly provided in the organization documents; permit the inclusion of additional information in a Certificate of Division; and confirm that partnerships may document transactions and books and records electronically.

House Bill 343 (Chapter 258) signed by the governor and effective July 16 amends the Revised Uniform Limited Partnership Act to, among other things, confirm that statutory appraisal rights are unavailable unless expressly provided in the organization documents; permit the inclusion of additional information in a Certificate of Division; and confirm that LPs may document transactions and books and records electronically. 

House  Bill 344 (Chapter 259) signed by the governor and effective July 16 amends the Limited Liability Company Act to confirm that statutory appraisal rights are unavailable unless expressly provided in the organization documents; permit the inclusion of additional information in a Certificate of Division; confirm that LLCs may document transactions and books and records electronically.

Delaware Legislation Effective July 16, 2020