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Del. OKs Bill To Boost Shareholders' Election Rights

Law360 (April 16, 2009, 12:00 AM EDT) -- Delaware, long known for its director-friendly corporate laws, has enacted a measure that offers companies the option to expand shareholder powers to allow investors to nominate their own candidates in director elections and be reimbursed for proxy-solicitation expenses.

Gov. Jack A. Markell signed into law on April 10 a bill sponsored by state Rep. Melanie Marshall, D-Newark that provides several amendments to Title 8 of the Delaware Code regarding the General Corporation Law. The changes are slated to take effect Aug. 1.

The bill passed with...
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