Delaware Bar Corporate Law Section
Volunteer Delaware lawyer committee that drafts corporate-law statute amendments.
Definition
Delaware Bar Corporate Law Section is a volunteer committee of Delaware corporate lawyers that drafts proposed amendments to Delaware corporate statutes (DGCL, LLC Act, LP Act). The Delaware General Assembly typically adopts the Section recommendations.
Context
This is why Delaware corporate law stays consistently best-in-class: the experts who use it daily draft the updates.
Example
After the 2024 Moelis decision, the Delaware Bar Corporate Law Section drafted SB 313 expanding permissible stockholder agreement provisions; the Delaware General Assembly enacted it.
Common pitfalls
- Statutory amendments can affect existing Operating Agreement provisions.
- Stay current via Delaware Bar publications.