Author: Nick Smith

Proposed Statutory Officer Exculpation in Delaware

As we transition into spring, the minds of many corporate attorneys return to the annual updates proposed to the Delaware General Corporate Law (DGCL). If the changes proposed by the Council of Corporation Law Section of the Delaware State Bar Association are adopted (as they usually are), they will become effective on August 1, 2022. A few of this year’s proposed changes are of particular significance to officers of Delaware corporations. As currently enacted, Section 102(b)(7) of the DGCL allows...