Delaware Corporate Overhaul Signed Into Law by Governor (1)

A major rewrite of Delaware’s best-in-class corporate law was signed by Gov. Matt Meyer (D) on Tuesday night, just hours after the bill cleared its final legislative hurdle.

Meyer made state Senate Bill 21 the centerpiece of his first two months in office. The measure, which divided Delaware’s legal community, passed by a 32-7 vote in the state’s House of Representatives earlier Tuesday evening, well exceeding the two-thirds support threshold required for corporate law changes.

The bipartisan legislation is designed to lower judge-made guardrails around insider deals, restrict shareholder access to the texts and emails of board members, and ...