DE SB69 | 2017-2018 | 149th General Assembly

Status

Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 9-3)
Status: Passed on July 21 2017 - 100% progression
Action: 2017-07-21 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]

Summary

Section 1. Sections 1, 2, 5, 6, 7, 11 and 36 of this Act amend Sections 151(f), 202(a), 219(a), 219(c), 224, 232(c) and 364 of Title 8, respectively. Amendments to Sections 219, 224 and 232 and related provisions are intended to provide specific statutory authority for Delaware corporations to use networks of electronic databases (examples of which are described currently as distributed ledgers or a blockchain) for the creation and maintenance of corporate records, including the corporations stock ledger. Section 219(c), as amended, now includes a definition of stock ledger. Section 224, as amended, requires that the stock ledger serve three functions contemplated by the Delaware General Corporation Law: it must enable the corporation to prepare the list of stockholders specified in Sections 219 and 220; it must record the information specified in Sections 156, 159, 217(a) and 218; and, as required by Section 159, it must record transfers of stock as governed by Article 8 of subtitle I of Title 6. Sections 151, 202 and 364 are also amended to clarify that the notices given to holders of uncertificated shares pursuant to those sections may be given by electronic transmission.

Tracking Information

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Title

An Act To Amend Title 8 Of The Delaware Code Relating To The General Corporation Law.

Sponsors


Roll Calls

2017-06-30 - House - House Third Reading (Y: 40 N: 1 NV: 0 Abs: 0) [PASS]
2017-06-06 - Senate - Senate Third Reading (Y: 20 N: 0 NV: 1 Abs: 0) [PASS]

History

DateChamberAction
2017-07-21 Signed by Governor
2017-06-30 Passed By House. Votes: 40 YES 1 NO
2017-06-14 Reported Out of Committee (Judiciary) in House with 9 On Its Merits
2017-06-07 Assigned to Judiciary Committee in House
2017-06-06 Passed By Senate. Votes: 20 YES 1 NOT VOTING
2017-06-06 Reported Out of Committee (Elections & Government Affairs) in Senate with 3 Favorable
2017-05-05 Introduced and Assigned to Elections & Government Affairs Committee in Senate

Delaware State Sources


Bill Comments

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