Law360, New York (March 18, 2009, 12:00 AM EDT) -- Historically, the Delaware Corporation Law Council of the Delaware State Bar Association has been relatively nimble in proposing, and the Delaware General Assembly in adopting, amendments to the General Corporation Law ("DGCL") that either anticipate, or respond to, judicial and regulatory developments and changing trends in corporate governance.
To some extent, this reflects a desire to head off possible pre-emption by federal lawmakers or regulators in areas traditionally handled at the state level.
For instance, when majority voting for directors became a popular issue among institutional...
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