SB 113 DE

0likes☆Favorite🔕SubscribeShare

Became Law

Section 1 of the Act amends § 160(c) to clarify that shares of a corporation's capital stock held by any other entity (whether a corporation or non-corporate entity) are not entitled to be either voted or counted for quorum purposes if the corporation directly or indirectly holds a majority of such other entity's voting power entitled to vote generally in the election of, or is otherwise entitled to appoint or act as, the governing body of such entity. This amendment to § 160(c) should not be construed to create any negative implication with respect to the inclusion or exclusion of non-corporate entities in connection with any other section of the DGCL. Section 2 of this Act provides that the effective date for Section 1 of this Act is to be August 1, 2021.

• Darius J. Brown Democratic · primary
• Bryan Townsend Democratic · primary
• Sean M. Lynn Democratic · primary

1. Apr 21, 2021 Introduced and Assigned to Judiciary Committee in Senate · upper
2. Apr 28, 2021 Reported Out of Committee (Judiciary) in Senate with 4 Favorable, 1 On Its Merits · upper
3. Apr 29, 2021 Passed By Senate. Votes: 21 YES · upper
4. May 6, 2021 Assigned to Judiciary Committee in House · lower
5. May 19, 2021 Reported Out of Committee (Judiciary) in House with 1 Favorable, 7 On Its Merits · lower
6. Jun 4, 2021 Suspension of Rules in House · lower
7. Jun 10, 2021 Passed By House. Votes: 40 YES 1 ABSENT · lower
8. Jun 30, 2021 Signed by Governor · executive

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Bill Text · HTML
• Bill Text · PDF