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Delaware amended the Delaware General Corporation Law (DGCL) and the Delaware Limited Liability Company Act (DLLCA) in 2017 and 2018, respectively, to permit corporations and limited liability companies to represent capital...more
On July 24, 2018, Delaware Gov. John Carney signed into law amendments to the Delaware Limited Liability Company Act (DLLCA) and the Delaware General Corporation Law (DGCL) (collectively, the Acts), which are intended to keep...more
On April 19, 2018, the Executive Committee of the Delaware State Bar Association (DSBA) approved proposed amendments to the Delaware Limited Liability Company Act (the DLLCA), the Delaware Revised Uniform Limited Partnership...more
While cryptocurrencies have captured the attention of many, the blockchain technology underlying these instruments has potentially far-reaching implications in many other fields. Consistent with its reputation as a...more
Blockchain technology is creating an ecosystem designed to accommodate peer-to-peer transactions without a trusted administrator or intermediary. On a blockchain platform, direct transactions are underpinned by blockchain's...more
On July 21, 2017, Delaware’s 74th Governor, John Carney, signed SB 69 into law. This legislation amended various provisions of Delaware’s General Corporation Law (Title 8, Delaware Code) ostensibly to establish express...more
Amendments to the Delaware General Corporation Law (“DGCL”) allowing for the use of “distributed ledgers”, or “Blockchain” technology, for corporate recordkeeping, including stock ledgers, became effective on August 1, 2017....more
On August 1, 2017, Delaware became the first state to allow corporations to record issuances, transfers and ownership of stock using blockchain technology. The amendments were passed by the Delaware State Senate and House of...more
Delaware is known for being a trailblazer in the area of corporate law. In keeping with tradition, Delaware is the first state to formally recognize the ability of a corporation to record stockholder transactions using...more
On August 1, 2017, Delaware became the first state to allow corporations to use blockchain technology to maintain corporate records. This development comes almost a year after Vice Chancellor J. Travis Laster of the Delaware...more
On August 1, 2017, Delaware’s historic blockchain law became effective. The Delaware General Corporation Law (DGCL) has always required corporations to keep records of their stock and stockholders. Before this new law was...more
On July 21st, Delaware Governor John Carney Jr. signed SB 69 into law. SB 69 amends the Delaware General Corporation Law (“DGCL”) to explicitly authorize the use of distributed ledger technology in the administration of...more
On July 21, Delaware governor John C. Carney Jr. signed into law a series of amendments to the Delaware General Corporation Law (DGCL) that will allow companies to keep shareholder information on blockchain technology-based...more
Wilson Sonsini Goodrich & Rosati is pleased to present the August 2017 issue of the WSGR Fintech Update. This latest edition features an article on the State of Delaware's amendments to permit Delaware corporations to use...more
On May 2, 2016, during a keynote address at Consensus 2016, Jack Markell – Governor of Delaware from 2009 to 2017 – announced a comprehensive program to provide an enabling regulatory and legal environment for the development...more
On Friday July 21, 2017, Delaware's Governor John Carney signed into law amendments to Delaware's General Corporation Law to account for the use of blockchain technology in corporate record-keeping. The legislation will be...more
On July 21, 2017, Delaware Governor John Carney signed into law the 2017 amendments to the General Corporation Law and the Alternative Entity Statutes. The amendments will be effective on August 1, 2017 (other than the...more
Two amendments have been proposed to the Delaware General Corporation Law (the “DGCL”) to permit corporate record keeping utilizing blockchain databases (the “Blockchain Amendments”)....more
Corporate lawyers and software developers have been watching eagerly as the State of Delaware takes steps to enable Delaware corporations to issue shares of their stock as digital tokens. Instead of recording shares on paper...more
The Corporation Law Section of the Delaware State Bar Association recently approved amendments (the “Proposed DGCL Amendments”) to the General Corporation Law of the State of Delaware (the “DGCL”), which would allow Delaware...more
On March 27, 2017, the Corporation Law Section of the Delaware State Bar Association (DSBA) approved proposed amendments to the Delaware General Corporation Law (DGCL) that had been proposed by the DSBA Corporation Law...more
The Corporate Council of The Corporation Law Section of the Delaware State Bar Association has prepared proposed amendments to the Delaware General Corporation Law to facilitate the use of block chain technology for...more
The Corporate Council of the Corporation Law Section of the Delaware State Bar Association has released a long-awaited set of proposed amendments to the Delaware General Corporation Law (DGCL). The amendments are the latest...more
Delaware’s corporate law blockchain initiative includes a new class of “distributed ledger shares” and promises to lower transactional costs, speed up and automate manual processes, and reduce fraud. The public and...more